GoDaddy Inc. $GDDY Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in GoDaddy Inc. (NYSE:GDDY) by 48.3% in the 3rd quarter, Holdings Channel reports. The fund owned 66,435 shares of the technology company’s stock after selling 62,120 shares during the period. Teacher Retirement System of Texas’ holdings in GoDaddy were worth $9,090,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Bayforest Capital Ltd purchased a new position in shares of GoDaddy in the second quarter valued at $26,000. NewSquare Capital LLC lifted its holdings in GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares in the last quarter. Hemington Wealth Management boosted its position in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Root Financial Partners LLC purchased a new position in GoDaddy in the 3rd quarter valued at about $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of GoDaddy during the second quarter valued at about $66,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,317 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the completion of the transaction, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,115 shares of company stock worth $1,809,657 in the last ninety days. Insiders own 0.70% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY opened at $103.57 on Monday. The stock has a market capitalization of $14.00 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.95. The business’s fifty day moving average price is $121.34 and its 200 day moving average price is $136.35. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. GoDaddy Inc. has a 12-month low of $102.85 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

GDDY has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. JPMorgan Chase & Co. cut their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Wells Fargo & Company decreased their price target on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Cantor Fitzgerald cut their price target on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, Morgan Stanley reduced their price objective on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.21.

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.