Retirement Systems of Alabama Trims Holdings in GoDaddy Inc. (NYSE:GDDY)

Retirement Systems of Alabama lowered its position in GoDaddy Inc. (NYSE:GDDY) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,397 shares of the technology company’s stock after selling 370 shares during the period. Retirement Systems of Alabama’s holdings in GoDaddy were worth $5,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares during the period. Highland Capital Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at approximately $1,132,000. CWA Asset Management Group LLC lifted its stake in shares of GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its position in GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after buying an additional 17,021 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY opened at $211.14 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company’s 50-day moving average price is $204.17 and its 200 day moving average price is $178.19. GoDaddy Inc. has a fifty-two week low of $107.92 and a fifty-two week high of $216.00. The firm has a market cap of $29.64 billion, a price-to-earnings ratio of 16.32 and a beta of 1.15.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the sale, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their ownership of the stock. The transaction 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 GoDaddy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,483 shares of company stock valued at $4,893,633 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GDDY shares. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup increased their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $198.53.

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.