GoDaddy Inc. $GDDY Shares Sold by State of New Jersey Common Pension Fund D

Key Points

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State of New Jersey Common Pension Fund D trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,811 shares of the technology company's stock after selling 2,232 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in GoDaddy were worth $8,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company's stock worth $3,266,697,000 after purchasing an additional 462,807 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock valued at $751,778,000 after acquiring an additional 395,160 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of GoDaddy by 2.0% during 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 acquiring an additional 67,152 shares during the last quarter. Invesco Ltd. boosted its position in shares of GoDaddy by 13.8% during the 1st quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company's stock valued at $597,317,000 after acquiring an additional 401,918 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of GoDaddy by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after acquiring an additional 710,842 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Up 0.7%

Shares of GDDY traded up $0.9590 during midday trading on Friday, reaching $146.9890. The company had a trading volume of 1,128,135 shares, compared to its average volume of 1,587,868. 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 $20.35 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.58 and a beta of 1.08. The firm has a 50 day simple moving average of $164.80 and a 200-day simple moving average of $175.70. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33.

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

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,173 shares of the firm's 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 transaction, the chief accounting officer directly owned 21,198 shares in the company, valued at $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 is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $1,246,442.92. Following the transaction, the chief executive officer owned 431,015 shares of the company's stock, valued at $77,500,807.15. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,881 shares of company stock valued at $5,869,390. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. Citigroup lowered their price target on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Raymond James Financial dropped their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. JPMorgan Chase & Co. upped 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. Royal Bank Of Canada lowered their price objective on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently 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.