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

Kentucky Retirement Systems cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,688 shares of the technology company’s stock after selling 133 shares during the quarter. Kentucky Retirement Systems’ holdings in GoDaddy were worth $1,912,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy in the third quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new stake in shares of GoDaddy in the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $43,000. Friedenthal Financial purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $49,000. Finally, Huntington National Bank increased its position in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $207.35, for a total value of $207,350.00. Following the transaction, the chief operating officer now owns 184,632 shares of the company’s stock, valued at $38,283,445.20. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $98,885.00. Following the completion of the transaction, the director now directly owns 23,621 shares in the company, valued at approximately $4,671,525.17. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,482 shares of company stock valued at $4,903,930. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. B. Riley boosted their price objective on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Robert W. Baird lifted their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Barclays lifted their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Performance

NYSE GDDY opened at $173.82 on Friday. The stock’s fifty day moving average is $201.36 and its two-hundred day moving average is $181.13. The firm has a market capitalization of $24.40 billion, a P/E ratio of 26.95 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a fifty-two week low of $108.38 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.