GoDaddy Inc. (NYSE:GDDY) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its holdings in GoDaddy Inc. (NYSE:GDDY) by 7.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,079 shares of the technology company’s stock after selling 3,221 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in GoDaddy were worth $6,019,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GDDY. Cetera Investment Advisers raised its stake in shares of GoDaddy by 10.9% in the second quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after acquiring an additional 1,764 shares in the last quarter. Truist Financial Corp increased its stake in shares of GoDaddy by 1.1% during the second quarter. Truist Financial Corp now owns 35,534 shares of the technology company’s stock worth $4,964,000 after buying an additional 393 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in GoDaddy in the second quarter valued at approximately $245,000. Invst LLC lifted its stake in GoDaddy by 4.8% in the second quarter. Invst LLC now owns 7,558 shares of the technology company’s stock worth $1,069,000 after acquiring an additional 349 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in GoDaddy by 214.2% during the 2nd quarter. NewEdge Advisors LLC now owns 9,105 shares of the technology company’s stock worth $1,272,000 after acquiring an additional 6,207 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the transaction, the chief executive officer now owns 362,398 shares in the company, valued at $53,084,059.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the transaction, the chief executive officer now owns 362,398 shares in the company, valued at approximately $53,084,059.04. The disclosure for this sale can be found here. Insiders have sold 23,244 shares of company stock valued at $3,628,171 over the last three months. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the subject of several analyst reports. B. Riley upped their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada raised their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Raymond James raised their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Stock Performance

GoDaddy stock opened at $154.94 on Thursday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The company has a fifty day moving average price of $155.82 and a two-hundred day moving average price of $141.12. The company has a market cap of $22.11 billion, a PE ratio of 12.87 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the company earned $0.63 EPS. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. Research analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current year.

GoDaddy Company 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.