California State Teachers Retirement System Acquires 13,206 Shares of GoDaddy Inc. (NYSE:GDDY)

California State Teachers Retirement System lifted its stake in GoDaddy Inc. (NYSE:GDDY) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,188 shares of the technology company’s stock after buying an additional 13,206 shares during the period. California State Teachers Retirement System’s holdings in GoDaddy were worth $46,024,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GDDY. Rakuten Securities Inc. raised its position in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares during the last quarter. OFI Invest Asset Management bought a new position in GoDaddy during the 4th quarter valued at approximately $52,000. Summit Securities Group LLC bought a new stake in GoDaddy in the fourth quarter worth $58,000. Physician Wealth Advisors Inc. purchased a new stake in shares of GoDaddy in the fourth quarter worth $67,000. Finally, Global Retirement Partners LLC increased its stake in GoDaddy by 31.1% during the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock valued at $77,000 after purchasing an additional 93 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Morgan Stanley lowered their target price on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. UBS Group increased their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Royal Bank of Canada dropped their price objective on GoDaddy from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup lowered their target price on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.86.

GoDaddy Stock Down 1.1%

Shares of GDDY stock opened at $180.85 on Wednesday. The stock has a market cap of $25.77 billion, a price-to-earnings ratio of 28.04 and a beta of 1.13. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm’s 50-day moving average is $179.45 and its 200-day moving average is $189.65. GoDaddy Inc. has a 52-week low of $135.73 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.76 EPS. Sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the transaction, the chief operating officer now owns 256,949 shares of the company’s stock, valued at $44,130,990.75. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00. Following the transaction, the chief executive officer now directly owns 440,947 shares of the company’s stock, valued at approximately $84,159,144.42. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,526 shares of company stock worth $10,243,716 in the last 90 days. 0.61% of the stock is owned by company 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.