Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 4,065 GoDaddy Inc. (NYSE:GDDY)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,065 shares of the technology company's stock, valued at approximately $732,000.

Other large investors have also added to or reduced their stakes in the company. Intact Investment Management Inc. purchased a new position in shares of GoDaddy during the first quarter valued at approximately $72,000. Praxis Investment Management Inc. purchased a new stake in GoDaddy during the first quarter valued at $630,000. Alta Capital Management LLC increased its position in GoDaddy by 0.5% during the first quarter. Alta Capital Management LLC now owns 77,090 shares of the technology company's stock valued at $13,887,000 after acquiring an additional 381 shares during the last quarter. Blue Trust Inc. increased its position in GoDaddy by 113.6% in the first quarter. Blue Trust Inc. now owns 645 shares of the technology company's stock worth $116,000 after buying an additional 343 shares in the last quarter. Finally, Institute for Wealth Management LLC. purchased a new stake in GoDaddy in the first quarter worth about $362,000. Institutional investors own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $539,550.00. Following the sale, the chief executive officer now owns 443,947 shares of the company's stock, valued at approximately $79,843,867.95. This represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at approximately $20,750,193.75. The trade was a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,632 shares of company stock valued at $12,602,635 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

Shares of NYSE GDDY traded up $3.00 during midday trading on Friday, reaching $180.19. 1,866,062 shares of the company were exchanged, compared to its average volume of 1,334,529. 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 1 year low of $138.48 and a 1 year high of $216.00. The stock has a fifty day simple moving average of $181.41 and a 200 day simple moving average of $186.93. The stock has a market cap of $25.67 billion, a P/E ratio of 34.65 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly 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). 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 16.20% and a return on equity of 211.09%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 earnings per share. On average, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Piper Sandler increased their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a report on Monday, June 23rd. Morgan Stanley reduced their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup dropped their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Seven 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

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.