GoDaddy Inc. (NYSE:GDDY) Stock Position Lifted by State of Michigan Retirement System

State of Michigan Retirement System boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,600 shares of the technology company’s stock after purchasing an additional 800 shares during the period. State of Michigan Retirement System’s holdings in GoDaddy were worth $4,106,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in GoDaddy in the fourth quarter worth approximately $28,000. GAMMA Investing LLC grew its position in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in GoDaddy in the fourth quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV grew its position in GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares in the last quarter. Finally, Rise Advisors LLC bought a new stake in GoDaddy in the first quarter worth approximately $48,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In other news, CAO Nick Daddario sold 7,278 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $138.92, for a total value of $1,011,059.76. Following the sale, the chief accounting officer now owns 18,388 shares of the company’s stock, valued at approximately $2,554,460.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Nick Daddario sold 7,278 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $138.92, for a total value of $1,011,059.76. Following the sale, the chief accounting officer now owns 18,388 shares of the company’s stock, valued at approximately $2,554,460.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the sale, the director now directly owns 11,317 shares in the company, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,571 shares of company stock valued at $5,687,391. 0.61% of the stock is owned by insiders.

GoDaddy Trading Up 1.0 %

Shares of GDDY stock opened at $142.96 on Wednesday. GoDaddy Inc. has a 52-week low of $69.18 and a 52-week high of $143.37. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 11.87 and a beta of 1.14. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a fifty day moving average of $135.52 and a 200-day moving average of $120.88.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, equities research analysts forecast that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on GDDY. Barclays boosted their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Robert W. Baird boosted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Raymond James began coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective for the company. Finally, Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.92.

GoDaddy Company 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.