Vestcor Inc Sells 7,762 Shares of GoDaddy Inc. $GDDY

Vestcor Inc lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 11.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 62,715 shares of the technology company’s stock after selling 7,762 shares during the period. Vestcor Inc’s holdings in GoDaddy were worth $8,581,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GDDY. Sivia Capital Partners LLC raised its stake in GoDaddy by 90.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after buying an additional 1,552 shares during the period. Penserra Capital Management LLC grew its stake in GoDaddy by 14.0% in the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after acquiring an additional 92 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of GoDaddy by 6.1% in the first quarter. Summit Investment Advisors Inc. now owns 11,030 shares of the technology company’s stock worth $1,987,000 after acquiring an additional 630 shares in the last quarter. Prospera Financial Services Inc increased its holdings in shares of GoDaddy by 54.6% in the second quarter. Prospera Financial Services Inc now owns 7,508 shares of the technology company’s stock worth $1,352,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Aviva PLC raised its position in shares of GoDaddy by 7.7% during the second quarter. Aviva PLC now owns 105,673 shares of the technology company’s stock worth $19,027,000 after purchasing an additional 7,562 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the transaction, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This trade represents a 12.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 17,406 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the transaction, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at approximately $10,056,136.97. The trade was a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 63,005 shares of company stock worth $5,690,243 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

Shares of GDDY opened at $91.78 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. The company’s fifty day simple moving average is $100.54 and its 200 day simple moving average is $122.37. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $193.55. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.86 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm posted $1.36 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of research reports. Royal Bank Of Canada cut their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Benchmark lowered their price objective on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Cantor Fitzgerald dropped their price objective on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Jefferies Financial Group reduced their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research note on Monday, February 23rd. Finally, UBS Group lowered their target price on GoDaddy from $145.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.93.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.