GoDaddy Inc. (NYSE:GDDY) Position Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY) by 3.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 176,376 shares of the technology company’s stock after selling 6,934 shares during the quarter. Retirement Systems of Alabama’s holdings in GoDaddy were worth $18,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings 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 in the last quarter. Fifth Third Bancorp purchased a new stake in shares of GoDaddy during the third quarter worth $43,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of GoDaddy during the third quarter worth $44,000. UMB Bank n.a. purchased a new stake in shares of GoDaddy during the fourth quarter worth $50,000. Finally, Tobam purchased a new stake in shares of GoDaddy during the fourth quarter worth $60,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GDDY shares. StockNews.com raised shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. UBS Group increased their target price on shares of GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Barclays increased their target price on shares of GoDaddy from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada reissued an “outperform” rating and set a $124.00 target price on shares of GoDaddy in a research report on Thursday, March 7th. Finally, Robert W. Baird increased their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.18.

GoDaddy Trading Down 2.1 %

Shares of NYSE:GDDY opened at $122.42 on Wednesday. The company has a market cap of $17.44 billion, a P/E ratio of 12.78 and a beta of 1.12. The stock’s 50-day moving average is $119.33 and its 200-day moving average is $105.87. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $127.15. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47.

GoDaddy (NYSE:GDDY) last issued its quarterly 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. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. Equities research analysts predict that GoDaddy Inc. will post 4.76 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00. Following the sale, the chief operating officer now directly owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00. Following the sale, the chief operating officer now directly owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 28,392 shares of GoDaddy stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $3,138,451.68. Following the sale, the chief financial officer now directly owns 120,952 shares in the company, valued at $13,370,034.08. The disclosure for this sale can be found here. Insiders have sold a total of 121,234 shares of company stock valued at $13,534,946 over the last three months. 0.54% of the stock is owned by corporate insiders.

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.