Public Employees Retirement System of Ohio Acquires 29,500 Shares of GoDaddy Inc. $GDDY

Key Points

• The Public Employees Retirement System of Ohio increased its stake in GoDaddy by 63.7% during the second quarter, acquiring an additional 29,500 shares, bringing its total to approximately 75,805 shares valued at $13.6 million.
• GoDaddy's recent earnings report showed an EPS of $1.41, exceeding analyst estimates of $1.34, with revenues of $1.22 billion, reflecting an 8.3% year-over-year growth.
• Analysts have reduced their target prices for GoDaddy stock, with Raymond James lowering it from $225 to $175 while retaining a "strong-buy" rating, highlighting mixed sentiment among market experts.

Public Employees Retirement System of Ohio lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 63.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,805 shares of the technology company's stock after acquiring an additional 29,500 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.05% of GoDaddy worth $13,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighPoint Advisor Group LLC grew its position in shares of GoDaddy by 15.9% in the first quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company's stock valued at $402,000 after purchasing an additional 293 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of GoDaddy in the first quarter valued at approximately $291,000. DAVENPORT & Co LLC grew its position in shares of GoDaddy by 7.7% in the first quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock valued at $354,000 after purchasing an additional 141 shares during the last quarter. Optimist Retirement Group LLC grew its position in shares of GoDaddy by 5.8% in the first quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company's stock valued at $274,000 after purchasing an additional 84 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in shares of GoDaddy by 102.8% in the first quarter. Voya Investment Management LLC now owns 805,112 shares of the technology company's stock valued at $145,033,000 after purchasing an additional 408,178 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Up 0.1%

Shares of GDDY stock opened at $141.31 on Friday. The stock has a 50 day simple moving average of $149.53 and a 200 day simple moving average of $168.32. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 1 year low of $132.51 and a 1 year high of $216.00. The stock has a market cap of $19.56 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.53 and a beta of 1.02.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company's quarterly revenue was up 8.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 3,326 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $472,990.46. Following the completion of the sale, the chief financial officer directly owned 70,133 shares in the company, valued at $9,973,613.93. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total value of $900,000.00. Following the sale, the chief executive officer owned 406,065 shares of the company's stock, valued at $60,909,750. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,828 shares of company stock valued at $5,394,638. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on GDDY. Raymond James Financial decreased their target price on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Barclays decreased their target price on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Piper Sandler set a $182.00 price target on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Wells Fargo & Company cut their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Finally, Citigroup cut their price target on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and an average target price of $202.43.

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.

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