Sumitomo Mitsui Trust Group Inc. Has $44.49 Million Holdings in GoDaddy Inc. $GDDY

Key Points

• Sumitomo Mitsui Trust trimmed its stake in GoDaddy by 6.8%, selling 25,996 shares and leaving it with 358,554 shares worth about $44.49 million (0.27% of the company).
• Insider selling accelerated on March 4, when CEO Amanpal Singh Bhutani sold 34,148 shares ($3.04M) and CFO Mark McCaffrey sold 17,406 shares ($1.55M); insiders have sold 61,918 shares (~$5.5M) in the past 90 days and now own 0.70% of the stock.
• Operational and analyst snapshot: GoDaddy beat Q4 EPS estimates ($1.80 vs. $1.58) with revenue of $1.27B (up 6.8% YoY), while analysts have lowered some targets but the consensus is a "Moderate Buy" with an average price target of $125.57.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 358,554 shares of the technology company's stock after selling 25,996 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.27% of GoDaddy worth $44,489,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Sivia Capital Partners LLC lifted its holdings in GoDaddy by 90.3% in the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company's stock valued at $589,000 after buying an additional 1,552 shares during the period. Cerity Partners LLC lifted its holdings in GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company's stock valued at $4,896,000 after buying an additional 9,062 shares during the period. Treasurer of the State of North Carolina lifted its holdings in GoDaddy by 83.0% in the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company's stock valued at $28,016,000 after buying an additional 70,585 shares during the period. Osterweis Capital Management Inc. acquired a new position in GoDaddy in the second quarter valued at $152,000. Finally, Main Street Financial Solutions LLC lifted its holdings in GoDaddy by 1.0% in the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock valued at $2,185,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 34,148 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer directly owned 530,120 shares of the company's stock, valued at $47,175,378.80. The trade was a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Mccaffrey sold 17,406 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the sale, the chief financial officer directly owned 113,003 shares of the company's stock, valued at approximately $10,056,136.97. The trade was a 13.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 61,918 shares of company stock valued at $5,500,469. Insiders own 0.70% of the company's stock.

GoDaddy Trading Up 3.9%

NYSE:GDDY opened at $82.45 on Thursday. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a 50-day moving average of $86.19 and a 200-day moving average of $110.60. The company has a market cap of $10.99 billion, a PE ratio of 13.23, a PEG ratio of 0.70 and a beta of 0.98. GoDaddy Inc. has a one year low of $73.06 and a one year high of $193.55.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.58 by $0.22. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GDDY. Evercore set a $95.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Wells Fargo & Company dropped their target price on shares of GoDaddy from $145.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 25th. Citigroup decreased their price target on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Cantor Fitzgerald dropped their price objective on shares of GoDaddy from $130.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada dropped their price objective on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $125.57.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company's core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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