GoDaddy Inc. (NYSE:GDDY) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 39.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,596 shares of the technology company’s stock after selling 31,117 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GoDaddy were worth $6,789,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Whittier Trust Co. increased its holdings in shares of GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the period. Gulf International Bank UK Ltd grew its holdings in GoDaddy by 0.9% during 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 during the period. Sivia Capital Partners LLC grew its holdings in GoDaddy by 3.9% during the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after acquiring an additional 113 shares during the period. GAMMA Investing LLC grew its holdings 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 period. Finally, Signaturefd LLC grew its holdings in GoDaddy by 6.3% during the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after acquiring an additional 148 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at approximately $51,078,986.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’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 $629,055.00. Following the completion of the sale, the chief executive officer now owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The disclosure for this sale can be found here. Insiders sold a total of 30,744 shares of company stock worth $4,664,216 in the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Trading Down 0.2 %

Shares of NYSE GDDY opened at $152.28 on Monday. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The firm has a market capitalization of $21.47 billion, a PE ratio of 12.65 and a beta of 1.13. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The business has a 50-day moving average price of $153.13 and a two-hundred day moving average price of $137.55.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GDDY shares. Benchmark lifted their target price on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Robert W. Baird lifted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Barclays lifted their price target on GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada lifted their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Citigroup lifted their price target on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.08.

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.