Nomura Asset Management Co. Ltd. Decreases Holdings in GoDaddy Inc. (NYSE:GDDY)

Nomura Asset Management Co. Ltd. decreased its position in GoDaddy Inc. (NYSE:GDDY) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,994 shares of the technology company’s stock after selling 11,592 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.05% of GoDaddy worth $14,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Boussard & Gavaudan Investment Management LLP purchased a new stake in GoDaddy during the fourth quarter valued at about $1,001,000. New Age Alpha Advisors LLC bought a new stake in shares of GoDaddy in the 4th quarter valued at about $2,010,000. Norges Bank purchased a new stake in GoDaddy during the 4th quarter valued at about $356,038,000. NEOS Investment Management LLC grew its position in GoDaddy by 21.6% during the 4th quarter. NEOS Investment Management LLC now owns 6,946 shares of the technology company’s stock worth $1,371,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in GoDaddy by 16.0% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 14,528 shares of the technology company’s stock worth $2,867,000 after purchasing an additional 2,009 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GDDY shares. B. Riley increased their price objective on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Benchmark upped their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Piper Sandler increased their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the transaction, the chief operating officer now directly owns 257,949 shares in the company, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock valued at $3,816,029 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 2.1 %

NYSE GDDY opened at $178.89 on Monday. The firm has a market capitalization of $25.29 billion, a PE ratio of 27.73 and a beta of 1.25. The stock’s 50 day moving average is $189.80 and its 200 day moving average is $184.41. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy Company Profile

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.