Louisiana State Employees Retirement System Purchases Shares of 39,600 GoDaddy Inc. (NYSE:GDDY)

Louisiana State Employees Retirement System bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,600 shares of the technology company’s stock, valued at approximately $4,204,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Achmea Investment Management B.V. acquired a new stake in GoDaddy during the 1st quarter worth approximately $31,000. Quent Capital LLC increased its stake in GoDaddy by 2,113.6% in the 3rd quarter. Quent Capital LLC now owns 487 shares of the technology company’s stock valued at $36,000 after buying an additional 465 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares during the period. Fifth Third Bancorp acquired a new position in GoDaddy during the 3rd quarter worth approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in shares of GoDaddy in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,234 shares of company stock worth $13,534,946. 0.54% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GoDaddy stock opened at $123.30 on Monday. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 12.87 and a beta of 1.12. GoDaddy Inc. has a 1 year low of $67.43 and a 1 year high of $127.15. The firm has a 50 day moving average price of $116.54 and a 200 day moving average price of $101.79.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Sell-side analysts predict that GoDaddy Inc. will post 4.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several research analyst reports. Raymond James assumed coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price target on the stock. Robert W. Baird lifted their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of GoDaddy in a report on Thursday, March 7th. UBS Group lifted their price target on GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Piper Sandler raised their target price on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.18.

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.