GoDaddy Inc. (NYSE:GDDY) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in GoDaddy Inc. (NYSE:GDDY) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,147 shares of the technology company’s stock after selling 158 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in GoDaddy were worth $1,976,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the second quarter worth about $28,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the 2nd quarter valued at approximately $32,000. V Square Quantitative Management LLC acquired a new position in GoDaddy in the fourth quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new position in GoDaddy in the second quarter worth approximately $36,000. Finally, GAMMA Investing LLC increased its stake in GoDaddy by 102.3% during 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 during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent analyst reports. Royal Bank of Canada upped their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Barclays increased their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, B. Riley boosted their target price on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.00.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the transaction, the chief operating officer now directly owns 192,632 shares in the company, valued at $26,928,027.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the transaction, the chief operating officer now owns 192,632 shares in the company, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,744 shares of company stock valued at $4,816,386. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Down 1.3 %

GDDY stock opened at $158.52 on Tuesday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The firm has a market capitalization of $22.62 billion, a price-to-earnings ratio of 13.17 and a beta of 1.13. The company’s 50 day moving average price is $154.59 and its 200 day moving average price is $139.42.

GoDaddy (NYSE:GDDY) last released 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 analysts’ expectations of $1.11 billion. During the same period last year, the firm posted $0.63 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current fiscal 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.