New York State Common Retirement Fund Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

New York State Common Retirement Fund lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 31.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 233,214 shares of the technology company’s stock after selling 108,494 shares during the period. New York State Common Retirement Fund’s holdings in GoDaddy were worth $36,563,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Highland Capital Management LLC bought a new stake in GoDaddy during the 3rd quarter valued at approximately $1,132,000. Plato Investment Management Ltd grew its stake in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares in the last quarter. Forsta AP Fonden lifted its position in GoDaddy by 87.5% during the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after buying an additional 39,200 shares during the period. Finally, Swedbank AB boosted its holdings in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after buying an additional 5,247 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Trading Down 2.1 %

GoDaddy stock opened at $163.36 on Friday. GoDaddy Inc. has a one year low of $74.12 and a one year high of $171.93. The business’s fifty day moving average is $159.18 and its 200 day moving average is $147.27. The stock has a market capitalization of $23.03 billion, a PE ratio of 12.62 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted $0.89 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that GoDaddy Inc. will post 5.09 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on GDDY shares. Benchmark lifted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird lifted their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Raymond James boosted their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday. Finally, StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.38.

Insider Buying and Selling

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,744 shares of company stock worth $4,089,571. 0.61% of the stock is owned by insiders.

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.