New York State Common Retirement Fund Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

New York State Common Retirement Fund trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 15.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,644 shares of the technology company's stock after selling 29,799 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of GoDaddy worth $28,758,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in shares of GoDaddy by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock worth $751,778,000 after purchasing an additional 395,160 shares during the period. Geode Capital Management LLC raised its position in GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after buying an additional 90,810 shares during the last quarter. WCM Investment Management LLC raised its position in GoDaddy by 2.0% in the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock valued at $620,931,000 after buying an additional 67,152 shares during the last quarter. Invesco Ltd. raised its position in GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after buying an additional 304,033 shares during the last quarter. Finally, Norges Bank purchased a new stake in GoDaddy in the 4th quarter valued at $356,038,000. 90.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group lowered their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Citigroup decreased their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $225.00 target price on shares of GoDaddy in a research report on Monday, June 23rd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Price Performance

NYSE GDDY traded down $1.93 during trading hours on Tuesday, hitting $167.86. The company had a trading volume of 1,476,079 shares, compared to its average volume of 1,336,715. GoDaddy Inc. has a 52 week low of $140.11 and a 52 week high of $216.00. The firm has a 50 day simple moving average of $180.38 and a 200 day simple moving average of $184.68. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of 32.28 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $2.76 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In other news, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the sale, the chief accounting officer owned 21,198 shares in the company, valued at approximately $3,770,488.26. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $175.96, for a total value of $175,960.00. Following the sale, the chief operating officer owned 254,949 shares of the company's stock, valued at approximately $44,860,826.04. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,757 shares of company stock worth $12,074,330. Company insiders own 0.61% of the company's stock.

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.