Retirement Systems of Alabama Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Retirement Systems of Alabama lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,767 shares of the technology company’s stock after selling 323 shares during the quarter. Retirement Systems of Alabama’s holdings in GoDaddy were worth $4,824,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. grew its holdings 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 stake in GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after acquiring an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC increased its position in shares of GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after acquiring an additional 350,839 shares during the period. FMR LLC increased its position in shares of GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after acquiring an additional 235,934 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 3.5 %

Shares of NYSE:GDDY opened at $200.13 on Thursday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $28.10 billion, a P/E ratio of 15.47 and a beta of 1.15. The business’s 50-day moving average is $183.43 and its 200 day moving average is $161.83. GoDaddy Inc. has a 1 year low of $99.90 and a 1 year high of $211.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. On average, research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the transaction, the chief executive officer now directly owns 348,956 shares of the company’s stock, valued at approximately $54,297,553.60. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the sale, the chief financial officer now owns 93,102 shares of the company’s stock, valued at approximately $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,503 shares of company stock worth $4,158,033. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $181.57.

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.