New York State Teachers Retirement System Has $10.67 Million Holdings in GoDaddy Inc. $GDDY

New York State Teachers Retirement System lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,981 shares of the technology company’s stock after selling 5,803 shares during the quarter. New York State Teachers Retirement System owned about 0.06% of GoDaddy worth $10,669,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares of the company’s stock, valued at $1,834,462.35. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director directly owned 11,414 shares in the company, valued at $991,420.04. The trade was a 5.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,918 shares of company stock worth $5,500,469 over the last quarter. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GDDY shares. Piper Sandler started coverage on shares of GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target for the company. Cantor Fitzgerald lowered their price target on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday. Jefferies Financial Group lowered their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Finally, Barclays lowered their price target on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $120.93.

GoDaddy Stock Up 1.7%

GoDaddy stock opened at $88.27 on Tuesday. The company’s 50 day simple moving average is $84.84 and its 200 day simple moving average is $106.67. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $190.50. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.80 and a beta of 0.92. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned $1.51 EPS. GoDaddy’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 7.01 EPS for the current year.

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.