Kentucky Retirement Systems Cuts Stake in GoDaddy Inc. (NYSE:GDDY)

Kentucky Retirement Systems lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,688 shares of the technology company’s stock after selling 133 shares during the period. Kentucky Retirement Systems’ holdings in GoDaddy were worth $1,912,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GDDY. Creative Planning increased its stake in shares of GoDaddy by 41.6% during the third quarter. Creative Planning now owns 14,187 shares of the technology company’s stock valued at $2,224,000 after buying an additional 4,168 shares during the period. Blue Trust Inc. increased its stake in shares of GoDaddy by 40.0% during the third quarter. Blue Trust Inc. now owns 763 shares of the technology company’s stock valued at $120,000 after buying an additional 218 shares during the period. Sequoia Financial Advisors LLC bought a new stake in GoDaddy during the third quarter valued at about $293,000. Signaturefd LLC boosted its position in GoDaddy by 13.7% during the third quarter. Signaturefd LLC now owns 2,819 shares of the technology company’s stock valued at $442,000 after purchasing an additional 339 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in GoDaddy during the third quarter valued at about $343,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 1.6 %

Shares of NYSE:GDDY opened at $173.82 on Friday. GoDaddy Inc. has a 52-week low of $108.38 and a 52-week high of $216.00. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 26.95 and a beta of 1.15. 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 business has a 50-day moving average price of $201.36 and a 200-day moving average price of $181.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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 firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GDDY shares. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Jefferies Financial Group raised their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Citigroup raised their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. raised their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the transaction, the chief executive officer now owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,482 shares of company stock worth $4,903,930 over the last three months. 0.61% of the stock is currently owned by insiders.

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.