Maryland State Retirement & Pension System Sells 626 Shares of GoDaddy Inc. (NYSE:GDDY)

Maryland State Retirement & Pension System cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,465 shares of the technology company’s stock after selling 626 shares during the period. Maryland State Retirement & Pension System’s holdings in GoDaddy were worth $1,473,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GDDY. Natixis Advisors LLC raised its stake in shares of GoDaddy by 42.8% during the third quarter. Natixis Advisors LLC now owns 30,409 shares of the technology company’s stock valued at $4,768,000 after acquiring an additional 9,115 shares during the last quarter. Prospera Financial Services Inc bought a new position in shares of GoDaddy during the third quarter valued at about $807,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of GoDaddy during the third quarter valued at about $472,000. PNC Financial Services Group Inc. raised its stake in shares of GoDaddy by 18.6% during the third quarter. PNC Financial Services Group Inc. now owns 6,285 shares of the technology company’s stock valued at $985,000 after acquiring an additional 986 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GoDaddy during the third quarter valued at about $7,166,000. 90.28% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the sale, the chief executive officer now owns 505,649 shares in the company, valued at approximately $91,350,548.34. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares in the company, valued at $36,831,070.24. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock worth $3,816,029 over the last 90 days. 0.61% of the stock is currently owned by insiders.

GoDaddy Price Performance

Shares of GDDY opened at $180.49 on Friday. The firm’s 50-day simple moving average is $191.37 and its two-hundred day simple moving average is $182.97. GoDaddy Inc. has a fifty-two week low of $118.39 and a fifty-two week high of $216.00. 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 stock has a market cap of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays boosted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company assumed coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has an average 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.