Louisiana State Employees Retirement System Has $1.50 Million Position in GoDaddy Inc. (NYSE:GDDY)

Louisiana State Employees Retirement System lowered its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,600 shares of the technology company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in GoDaddy were worth $1,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GDDY. Principal Financial Group Inc. grew its position in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares during the period. Highland Capital Management LLC bought a new stake in shares of GoDaddy during the 3rd quarter worth approximately $1,132,000. CWA Asset Management Group LLC raised its stake in GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after acquiring an additional 3,631 shares during the period. Crossmark Global Holdings Inc. grew its holdings in GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after buying an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its position in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after buying an additional 17,021 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GDDY has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Morgan Stanley upped their price target on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group increased their price objective on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday. Six 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Performance

NYSE:GDDY opened at $182.58 on Monday. The company has a market cap of $25.63 billion, a price-to-earnings ratio of 14.11 and a beta of 1.15. The company has a fifty day simple moving average of $204.20 and a two-hundred day simple moving average of $180.30. GoDaddy Inc. has a 52 week low of $108.02 and a 52 week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. As a group, equities analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,482 shares of company stock valued at $4,709,650. 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.