Louisiana State Employees Retirement System Sells 100 Shares of GoDaddy Inc. (NYSE:GDDY)

Louisiana State Employees Retirement System trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 7,900 shares of the technology company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in GoDaddy were worth $1,239,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GDDY. Price T Rowe Associates Inc. MD increased its position in shares of GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP bought a new position in shares of GoDaddy in the first quarter worth approximately $75,855,000. Federated Hermes Inc. increased its position in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC grew its position in GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after acquiring an additional 379,228 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 value of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,744 shares of company stock valued at $4,089,571 over the last quarter. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

GDDY has been the topic of a number of recent research reports. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Royal Bank of Canada increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday. B. Riley increased their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark increased their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Performance

NYSE:GDDY opened at $163.37 on Friday. The firm has a market cap of $23.03 billion, a PE ratio of 12.61 and a beta of 1.12. GoDaddy Inc. has a fifty-two week low of $74.12 and a fifty-two week high of $171.93. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The business has a 50 day moving average price of $159.17 and a 200-day moving average price of $146.82.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 313.25% and a net margin of 41.74%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that GoDaddy Inc. will post 5.07 earnings per share for the current year.

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.