California State Teachers Retirement System Has $46.02 Million Position in GoDaddy Inc. (NYSE:GDDY)

California State Teachers Retirement System boosted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 233,188 shares of the technology company's stock after acquiring an additional 13,206 shares during the quarter. California State Teachers Retirement System owned 0.16% of GoDaddy worth $46,024,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its position in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after acquiring an additional 165 shares during the period. OFI Invest Asset Management acquired a new stake in GoDaddy during the 4th quarter worth about $52,000. Summit Securities Group LLC acquired a new stake in GoDaddy during the 4th quarter worth about $58,000. Physician Wealth Advisors Inc. acquired a new stake in GoDaddy during the 4th quarter worth about $67,000. Finally, Global Retirement Partners LLC raised its stake in shares of GoDaddy by 31.1% during the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company's stock worth $77,000 after purchasing an additional 93 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY stock traded up $1.44 during trading on Friday, reaching $182.14. The company had a trading volume of 1,989,421 shares, compared to its average volume of 1,486,329. The firm's 50 day simple moving average is $179.33 and its two-hundred day simple moving average is $189.52. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a one year low of $135.73 and a one year high of $216.00. The company has a market capitalization of $25.95 billion, a PE ratio of 28.24 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $2.76 EPS. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of recent research reports. UBS Group raised their price target on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Piper Sandler raised their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada cut their price target on GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $214.86.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the sale, the director now directly owns 22,121 shares in the company, valued at approximately $3,996,379.86. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at approximately $44,937,295.29. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,526 shares of company stock valued at $10,243,716. 0.61% 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.