6,900 Shares in GoDaddy Inc. $GDDY Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,900 shares of the technology company’s stock, valued at approximately $570,000.

Several other institutional investors have also added to or reduced their stakes in the business. Sivia Capital Partners LLC boosted its stake in GoDaddy by 90.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after purchasing an additional 1,552 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after buying an additional 9,062 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock worth $28,016,000 after buying an additional 70,585 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of GoDaddy during the second quarter worth $152,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GDDY shares. UBS Group began coverage on GoDaddy in a research note on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 target price for the company. Benchmark dropped their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. JPMorgan Chase & Co. cut their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Wells Fargo & Company lifted their target price on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Piper Sandler assumed coverage on GoDaddy in a research report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.43.

GoDaddy Stock Performance

Shares of GDDY stock opened at $89.40 on Wednesday. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $179.61. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market cap of $11.84 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. The business has a 50-day simple moving average of $84.89 and a 200-day simple moving average of $92.37.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted $1.51 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts expect that GoDaddy Inc. will post 7.13 EPS for the current year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 3,958 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the completion of the transaction, the chief financial officer owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. The trade was a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the sale, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 16,751 shares of company stock valued at $1,480,228. 0.93% of the stock is currently owned by company insiders.

GoDaddy 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.