Maryland State Retirement & Pension System Has $1.21 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Maryland State Retirement & Pension System trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,420 shares of the technology company’s stock after selling 713 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GoDaddy were worth $1,212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GDDY. Federated Hermes Inc. lifted its position in shares of GoDaddy by 3,402.0% in the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares during the period. Los Angeles Capital Management LLC raised its position in shares of GoDaddy by 7,379.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after acquiring an additional 714,075 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after purchasing an additional 695,897 shares in the last quarter. Bank of New York Mellon Corp grew its stake in GoDaddy by 88.7% during the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in GoDaddy by 9.7% in the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after purchasing an additional 561,614 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Benchmark restated a “buy” rating and issued a $150.00 target price on shares of GoDaddy in a research note on Wednesday, May 1st. Morgan Stanley upped their price target on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Evercore ISI boosted their price objective on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Finally, Barclays increased their target price on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.73.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the transaction, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The disclosure for this sale can be found here. Insiders have sold 125,234 shares of company stock worth $14,025,346 in the last ninety days. Company insiders own 0.54% of the company’s stock.

GoDaddy Trading Up 0.0 %

Shares of GDDY stock opened at $131.40 on Thursday. GoDaddy Inc. has a 52-week low of $68.98 and a 52-week high of $132.00. The company has a 50-day simple moving average of $121.00 and a two-hundred day simple moving average of $107.81. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.47 and a current ratio of 0.55. The company has a market capitalization of $18.72 billion, a price-to-earnings ratio of 10.91 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Research analysts anticipate that GoDaddy Inc. will post 4.93 EPS for the current fiscal year.

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.