New York State Common Retirement Fund Cuts Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

New York State Common Retirement Fund reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,921 shares of the technology company’s stock after selling 39,370 shares during the period. New York State Common Retirement Fund owned 0.24% of GoDaddy worth $36,086,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in GoDaddy by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock worth $473,713,000 after buying an additional 561,614 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after buying an additional 695,897 shares in the last quarter. Bank of New York Mellon Corp increased its stake in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after buying an additional 674,719 shares in the last quarter. Northern Trust Corp increased its stake in GoDaddy by 36.8% during the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after buying an additional 375,568 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after buying an additional 928,273 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GDDY shares. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Raymond James started coverage on GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price on the stock. B. Riley boosted their target price on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. UBS Group boosted their target price on GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Evercore ISI cut GoDaddy from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.18.

GoDaddy Stock Up 0.3 %

NYSE:GDDY opened at $123.79 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The stock’s fifty day moving average is $118.20 and its two-hundred day moving average is $104.29. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 12.92 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Research analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $120.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 384,323 shares in the company, valued at approximately $46,118,760. The disclosure for this sale can be found here. Insiders have sold 121,234 shares of company stock worth $13,534,946 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

GoDaddy Company Profile

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.