Maryland State Retirement & Pension System Sells 713 Shares of GoDaddy Inc. (NYSE:GDDY)

Maryland State Retirement & Pension System reduced its position in GoDaddy Inc. (NYSE:GDDY) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,420 shares of the technology company’s stock after selling 713 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GoDaddy were worth $1,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new stake in GoDaddy during the 4th quarter valued at approximately $4,204,000. SG Americas Securities LLC increased its holdings in GoDaddy by 644.6% in the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock valued at $15,886,000 after acquiring an additional 129,547 shares during the last quarter. Horrell Capital Management Inc. lifted its stake in GoDaddy by 41.7% in the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after purchasing an additional 20,000 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of GoDaddy during the 4th quarter valued at about $773,000. Finally, Lecap Asset Management Ltd. purchased a new position in shares of GoDaddy during the fourth quarter valued at about $2,328,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on GDDY. JPMorgan Chase & Co. boosted their target price on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a report on Wednesday, May 1st. Robert W. Baird raised their target price on shares of GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 25th. William Blair reaffirmed an “outperform” rating on shares of GoDaddy in a research note on Friday, May 3rd. Finally, Piper Sandler lifted their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $142.73.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Mark Mccaffrey sold 624 shares of the 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 owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,234 shares of company stock worth $14,025,346. 0.54% of the stock is currently owned by insiders.

GoDaddy Price Performance

GoDaddy stock opened at $131.40 on Thursday. GoDaddy Inc. has a 12-month low of $68.98 and a 12-month high of $132.00. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 9.15. The firm has a 50-day moving average price of $121.00 and a 200-day moving average price of $107.81. The firm has a market capitalization of $18.72 billion, a PE ratio of 10.91 and a beta of 1.09.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. As a group, equities research analysts forecast that GoDaddy Inc. will post 4.93 EPS for the current year.

GoDaddy 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.