Kentucky Retirement Systems Buys New Holdings in GoDaddy Inc. (NYSE:GDDY)

Kentucky Retirement Systems purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,621 shares of the technology company’s stock, valued at approximately $1,484,000.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. increased its position in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of GoDaddy by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 113 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after acquiring an additional 113 shares during the period. GAMMA Investing LLC lifted its holdings in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Signaturefd LLC boosted its position in GoDaddy by 6.3% during the 2nd quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after purchasing an additional 148 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on GDDY shares. JPMorgan Chase & Co. raised their price objective on GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Citigroup boosted their price target on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Robert W. Baird increased their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Benchmark lifted their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Cantor Fitzgerald began coverage on shares of GoDaddy in a research note on Thursday, September 5th. They issued a “neutral” rating and a $170.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $164.08.

GoDaddy Trading Up 0.2 %

NYSE:GDDY opened at $160.48 on Friday. The company has a market cap of $22.90 billion, a PE ratio of 13.33 and a beta of 1.13. The business’s 50 day moving average is $154.36 and its two-hundred day moving average is $138.69. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts predict that GoDaddy Inc. will post 5.06 EPS for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock valued at $4,816,386 in the last quarter. Insiders own 0.61% of the company’s stock.

GoDaddy 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.