Arizona State Retirement System Boosts Stake in GoDaddy Inc. (NYSE:GDDY)

Arizona State Retirement System increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,945 shares of the technology company’s stock after acquiring an additional 566 shares during the period. Arizona State Retirement System’s holdings in GoDaddy were worth $8,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the third quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy in the 4th quarter valued at $43,000. Huntington National Bank increased its holdings in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in GoDaddy during the fourth quarter worth $49,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 2.0 %

Shares of NYSE GDDY opened at $175.52 on Friday. The company has a market capitalization of $24.81 billion, a P/E ratio of 27.21 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a 50 day simple moving average of $195.50 and a 200-day simple moving average of $182.12. GoDaddy Inc. has a 1 year low of $112.49 and a 1 year high of $216.00.

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

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the transaction, the director now directly owns 22,121 shares in the company, valued at $3,996,379.86. This trade represents a 2.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,034 shares of company stock worth $4,166,030 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GDDY. Benchmark lifted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Raymond James raised their target price on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Citigroup increased their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.