California Public Employees Retirement System Sells 1,366 Shares of GoDaddy Inc. (NYSE:GDDY)

California Public Employees Retirement System cut its stake in GoDaddy Inc. (NYSE:GDDY) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 923,122 shares of the technology company’s stock after selling 1,366 shares during the period. California Public Employees Retirement System owned about 0.65% of GoDaddy worth $97,999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GDDY. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in GoDaddy in the fourth quarter worth $556,000. Signaturefd LLC lifted its stake in GoDaddy by 9.2% in the fourth quarter. Signaturefd LLC now owns 2,207 shares of the technology company’s stock worth $234,000 after purchasing an additional 186 shares during the last quarter. Lindbrook Capital LLC lifted its stake in GoDaddy by 74.0% in the fourth quarter. Lindbrook Capital LLC now owns 731 shares of the technology company’s stock worth $78,000 after purchasing an additional 311 shares during the last quarter. abrdn plc raised its stake in shares of GoDaddy by 90.0% during the fourth quarter. abrdn plc now owns 51,353 shares of the technology company’s stock valued at $5,452,000 after acquiring an additional 24,323 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of GoDaddy by 3,402.0% during the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after acquiring an additional 928,273 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDDY has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of GoDaddy from $110.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley increased their price target on shares of GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. B. Riley increased their price target on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Evercore ISI downgraded shares of GoDaddy from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $100.00 to $110.00 in a research note on Wednesday, February 14th. Finally, Piper Sandler increased their price target on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.18.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the sale, the chief financial officer now directly owns 116,328 shares in the company, valued at approximately $14,055,912.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the sale, the chief financial officer now directly owns 116,328 shares in the company, valued at approximately $14,055,912.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 1,823 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the sale, the chief accounting officer now owns 25,263 shares in the company, valued at $2,792,572.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,234 shares of company stock worth $13,534,946. Company insiders own 0.54% of the company’s stock.

GoDaddy Stock Up 0.3 %

Shares of GoDaddy stock opened at $123.79 on Thursday. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 12.92 and a beta of 1.12. The company’s 50 day moving average is $118.20 and its 200 day moving average is $104.29. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Research analysts anticipate that GoDaddy Inc. will post 4.76 EPS 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.