Public Sector Pension Investment Board Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

Public Sector Pension Investment Board decreased its stake in GoDaddy Inc. (NYSE:GDDY) by 6.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 457,895 shares of the technology company’s stock after selling 32,965 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of GoDaddy worth $63,973,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GDDY. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the second quarter worth about $28,000. ORG Partners LLC purchased a new position in GoDaddy during the second quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new stake in GoDaddy in the fourth quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the second quarter valued at approximately $36,000. Finally, GAMMA Investing LLC raised its stake in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the subject of several recent analyst reports. Piper Sandler boosted their price target on shares of GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Citigroup upped their price target on shares of 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 raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.08.

GoDaddy Trading Up 0.3 %

Shares of GDDY stock opened at $160.55 on Monday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The company’s 50-day moving average price is $154.36 and its 200-day moving average price is $139.11. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 13.33 and a beta of 1.13.

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

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at $59,882,801.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The disclosure for this sale can be found here. Insiders have sold 31,744 shares of company stock worth $4,816,386 over the last quarter. 0.61% of the stock is currently owned by company insiders.

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.