New York State Teachers Retirement System Has $10.67 Million Stock Position in GoDaddy Inc. $GDDY

New York State Teachers Retirement System reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 6.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 85,981 shares of the technology company’s stock after selling 5,803 shares during the period. New York State Teachers Retirement System’s holdings in GoDaddy were worth $10,669,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GDDY. Ameriprise Financial Inc. raised its holdings in GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after buying an additional 1,128,646 shares during the period. Two Sigma Investments LP raised its holdings in GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after buying an additional 814,360 shares during the period. Victory Capital Management Inc. raised its holdings in GoDaddy by 318.6% during the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock worth $100,632,000 after buying an additional 559,757 shares during the period. BNP Paribas Financial Markets raised its holdings in GoDaddy by 85.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company’s stock worth $122,359,000 after buying an additional 411,349 shares during the period. Finally, UBS Group AG raised its holdings in GoDaddy by 43.2% during the 3rd quarter. UBS Group AG now owns 1,259,460 shares of the technology company’s stock worth $172,332,000 after buying an additional 379,926 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

Shares of GDDY opened at $88.27 on Tuesday. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.80 and a beta of 0.92. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $190.50. The company’s fifty day simple moving average is $84.84 and its 200 day simple moving average is $106.67. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 earnings per share. On average, research analysts forecast that GoDaddy Inc. will post 7.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Phontip Palitwanon sold 1,310 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer directly owned 20,349 shares in the company, valued at approximately $1,834,462.35. The trade was a 6.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the transaction, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. The trade was a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,918 shares of company stock valued at $5,500,469 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday. Cantor Fitzgerald dropped their target price 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 dropped their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Benchmark dropped their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, Citigroup dropped their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.93.

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.