GoDaddy Inc. (NYSE:GDDY) Holdings Decreased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,174 shares of the technology company’s stock after selling 372 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in GoDaddy were worth $654,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares during the period. Highland Capital Management LLC acquired a new stake in GoDaddy during the third quarter worth about $1,132,000. Plato Investment Management Ltd lifted its holdings in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after acquiring an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares during the period. Finally, Swedbank AB grew its holdings in shares of GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after purchasing an additional 5,247 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,844 shares of company stock valued at $4,619,397 over the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 1.2 %

Shares of GDDY stock opened at $185.11 on Tuesday. GoDaddy Inc. has a 1 year low of $91.86 and a 1 year high of $190.21. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The business’s fifty day moving average is $162.76 and its 200-day moving average is $151.41. The stock has a market cap of $25.99 billion, a PE ratio of 14.31 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on GDDY shares. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Royal Bank of Canada upped their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Benchmark lifted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $171.38.

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.