New York State Common Retirement Fund Decreases Position in GoDaddy Inc. (NYSE:GDDY)

New York State Common Retirement Fund cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,443 shares of the technology company’s stock after selling 43,771 shares during the period. New York State Common Retirement Fund owned 0.13% of GoDaddy worth $37,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GDDY. Creative Planning raised its position in 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 purchasing an additional 4,168 shares during the period. Blue Trust Inc. raised its position in 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 purchasing an additional 218 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in GoDaddy during the third quarter valued at approximately $293,000. Signaturefd LLC raised 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 during the period. Finally, Private Advisor Group LLC purchased a new stake in GoDaddy during the third quarter valued at approximately $343,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Up 0.0 %

GDDY opened at $176.56 on Friday. The stock’s fifty day moving average is $202.02 and its two-hundred day moving average is $180.74. The company has a market capitalization of $24.79 billion, a P/E ratio of 27.37 and a beta of 1.15. GoDaddy Inc. has a 52 week low of $108.02 and a 52 week 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 released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Analysts forecast that GoDaddy Inc. will post 6.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GDDY shares. Citigroup upped 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Wells Fargo & Company started coverage on GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target on the stock. Piper Sandler increased their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the sale, the chief executive officer now owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,482 shares of company stock valued at $4,903,930. 0.61% of the stock is currently owned by corporate 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.