Meiji Yasuda Asset Management Co Ltd. Purchases 596 Shares of GoDaddy Inc. (NYSE:GDDY)

Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 15.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,576 shares of the technology company’s stock after purchasing an additional 596 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in GoDaddy were worth $903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Towercrest Capital Management bought a new stake in shares of GoDaddy during the fourth quarter worth $240,000. Congress Wealth Management LLC DE acquired a new position in GoDaddy during the 4th quarter worth about $13,628,000. LPL Financial LLC grew its holdings in GoDaddy by 22.9% during the 4th quarter. LPL Financial LLC now owns 66,109 shares of the technology company’s stock worth $13,048,000 after acquiring an additional 12,328 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in GoDaddy in the 4th quarter valued at about $1,055,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of GoDaddy in the fourth quarter worth about $38,487,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $99,505.00. Following the sale, the director now owns 23,121 shares in the company, valued at approximately $4,601,310.21. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the transaction, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GDDY. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. Finally, Benchmark upped their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Price Performance

GDDY opened at $182.95 on Thursday. The stock has a market cap of $25.86 billion, a P/E ratio of 28.36 and a beta of 1.25. GoDaddy Inc. has a 12 month low of $118.39 and a 12 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. The company has a fifty day simple moving average of $190.59 and a 200 day simple moving average of $183.77.

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

GoDaddy 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.