GoDaddy Inc. (NYSE:GDDY) Shares Sold by New York State Common Retirement Fund

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

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the 3rd quarter worth $27,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the 4th quarter worth about $43,000. Friedenthal Financial acquired a new stake in GoDaddy during the 4th quarter worth about $49,000. Finally, Huntington National Bank lifted its position in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $176.56 on Friday. 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 Inc. has a twelve month low of $108.02 and a twelve month high of $216.00. The business has a 50-day moving average price of $202.02 and a 200 day moving average price of $180.74. The firm has a market cap of $24.79 billion, a PE ratio of 27.37 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Sell-side analysts predict that GoDaddy Inc. will post 6.53 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of GoDaddy stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now owns 83,254 shares in the company, valued at approximately $16,758,197.66. The trade was a 0.57 % 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 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays lifted their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark lifted their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Raymond James lifted their price target on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

About GoDaddy

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.