Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 385,784 shares of the technology company's stock after selling 10,366 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of GoDaddy worth $40,955,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC boosted its holdings in shares of GoDaddy by 49.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 211,463 shares of the technology company's stock worth $17,699,000 after buying an additional 69,944 shares during the period. HighTower Advisors LLC lifted its position in GoDaddy by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 16,959 shares of the technology company's stock worth $1,422,000 after acquiring an additional 1,246 shares during the last quarter. MetLife Investment Management LLC bought a new stake in GoDaddy during the first quarter valued at about $345,000. Rhumbline Advisers grew its position in shares of GoDaddy by 3.2% in the first quarter. Rhumbline Advisers now owns 138,312 shares of the technology company's stock valued at $11,577,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of GoDaddy by 30.8% in the first quarter. Raymond James Trust N.A. now owns 3,212 shares of the technology company's stock worth $269,000 after purchasing an additional 757 shares during the period. Institutional investors own 90.28% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada restated an "outperform" rating and set a $124.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. Morgan Stanley raised their price objective on shares of GoDaddy from $120.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 14th. Benchmark reiterated a "buy" rating and set a $150.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. StockNews.com upgraded shares of GoDaddy from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 14th. Finally, Evercore ISI downgraded shares of GoDaddy from an "outperform" rating to an "in-line" rating and boosted their price objective for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $135.18.

Insider Buying and Selling at GoDaddy

In related news, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the transaction, the chief financial officer now owns 116,328 shares of the company's stock, valued at approximately $14,055,912.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Nick Daddario sold 1,823 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares in the company, valued at $2,792,572.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,234 shares of company stock worth $13,534,946. Insiders own 0.54% of the company's stock.

GoDaddy Price Performance

NYSE:GDDY traded down $1.23 during trading hours on Friday, reaching $120.12. The company had a trading volume of 1,146,502 shares, compared to its average volume of 1,137,793. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The stock has a 50-day moving average of $117.57 and a two-hundred day moving average of $103.05. GoDaddy Inc. has a one year low of $67.43 and a one year high of $127.15. The firm has a market capitalization of $17.11 billion, a PE ratio of 12.54 and a beta of 1.12.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Analysts forecast that GoDaddy Inc. will post 4.76 earnings per share for the current year.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.