Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Invests $1.22 Million in Godaddy Inc (GDDY) Stock

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Godaddy Inc (NYSE:GDDY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,260 shares of the technology company’s stock, valued at approximately $1,219,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GDDY. Redpoint Investment Management Pty Ltd bought a new stake in Godaddy during the second quarter worth about $221,000. Swiss National Bank lifted its position in Godaddy by 102.6% during the second quarter. Swiss National Bank now owns 492,100 shares of the technology company’s stock worth $34,742,000 after purchasing an additional 249,200 shares during the period. US Bancorp DE lifted its position in Godaddy by 25.6% during the second quarter. US Bancorp DE now owns 7,649 shares of the technology company’s stock worth $540,000 after purchasing an additional 1,560 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Godaddy by 45.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 860,193 shares of the technology company’s stock worth $60,730,000 after purchasing an additional 267,800 shares during the period. Finally, Nissay Asset Management Corp Japan ADV bought a new stake in Godaddy during the second quarter worth about $865,000. Institutional investors and hedge funds own 93.61% of the company’s stock.

Several equities research analysts recently weighed in on GDDY shares. Jefferies Financial Group reaffirmed an “underperform” rating and set a $76.00 price objective on shares of Godaddy in a research report on Monday, May 7th. They noted that the move was a valuation call. Royal Bank of Canada increased their target price on shares of Godaddy to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, May 9th. Morgan Stanley increased their target price on shares of Godaddy from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, May 9th. Piper Jaffray Companies increased their target price on shares of Godaddy to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, May 9th. Finally, Oppenheimer increased their target price on shares of Godaddy from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $74.80.

In other Godaddy news, major shareholder 2006 Fund (Gdg) L.P. Kkr sold 3,500,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $75.61, for a total transaction of $264,635,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nima Kelly sold 8,688 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $80.04, for a total transaction of $695,387.52. Following the sale, the executive vice president now directly owns 61,424 shares of the company’s stock, valued at approximately $4,916,376.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,785,557 shares of company stock valued at $588,949,925 in the last three months. Insiders own 7.63% of the company’s stock.

GDDY stock opened at $80.74 on Thursday. The stock has a market capitalization of $13.81 billion, a PE ratio of 258.52, a P/E/G ratio of 8.59 and a beta of 0.58. The company has a debt-to-equity ratio of 3.56, a current ratio of 0.73 and a quick ratio of 0.73. Godaddy Inc has a 12 month low of $42.19 and a 12 month high of $81.95.

Godaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $643.59 million. Godaddy had a net margin of 5.83% and a return on equity of 8.78%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. analysts anticipate that Godaddy Inc will post 0.55 EPS for the current year.

Godaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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Institutional Ownership by Quarter for Godaddy (NYSE:GDDY)

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