Kentucky Retirement Systems Insurance Trust Fund Takes Position in GoDaddy Inc. (NYSE:GDDY)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,065 shares of the technology company's stock, valued at approximately $732,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. boosted its holdings in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. City Holding Co. lifted its holdings in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after buying an additional 60 shares during the period. OFI Invest Asset Management acquired a new stake in shares of GoDaddy in the 4th quarter valued at approximately $52,000. Summit Securities Group LLC purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $58,000. Finally, Physician Wealth Advisors Inc. acquired a new position in GoDaddy during the fourth quarter worth $67,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

Shares of NYSE GDDY traded up $1.46 during trading on Friday, reaching $178.65. The company had a trading volume of 64,778 shares, compared to its average volume of 1,334,613. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy Inc. has a twelve month low of $138.48 and a twelve month high of $216.00. The stock has a 50-day moving average price of $181.23 and a two-hundred day moving average price of $187.24. The stock has a market capitalization of $25.46 billion, a PE ratio of 34.35 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.76 EPS. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $89,925.00. Following the completion of the sale, the director now owns 21,621 shares of the company's stock, valued at $3,888,536.85. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 37,500 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the transaction, the chief financial officer now owns 77,250 shares of the company's stock, valued at $13,978,387.50. The trade was a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,632 shares of company stock valued at $12,602,635 over the last 90 days. Insiders own 0.61% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on GDDY. Piper Sandler increased their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Morgan Stanley cut their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group reduced their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Royal Bank Of Canada reissued an "outperform" rating and set a $225.00 price objective on shares of GoDaddy in a report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $214.86.

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.