Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 837 Shares of GoDaddy Inc. (NYSE:GDDY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in GoDaddy Inc. (NYSE:GDDY) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 29,851 shares of the technology company’s stock after selling 837 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in GoDaddy were worth $5,892,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC bought a new position in shares of GoDaddy during the 3rd quarter valued at about $31,000. Versant Capital Management Inc bought a new position in shares of GoDaddy during the 4th quarter valued at about $43,000. Rakuten Securities Inc. boosted its holdings in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares during the last quarter. Friedenthal Financial bought a new position in shares of GoDaddy during the 4th quarter valued at about $49,000. Finally, OFI Invest Asset Management bought a new position in shares of GoDaddy during the 4th quarter valued at about $52,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock opened at $180.49 on Friday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $118.39 and a 1-year high of $216.00. The firm has a market capitalization of $25.51 billion, a P/E ratio of 27.98 and a beta of 1.25. The company’s 50-day moving average is $191.37 and its 200 day moving average is $183.14.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now directly owns 505,649 shares of the company’s stock, valued at approximately $91,350,548.34. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares in the company, valued at approximately $44,937,295.29. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GDDY. Benchmark increased their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley increased their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Citigroup upped their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. 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. Finally, UBS Group upped their target price on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

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.