Vestcor Inc Has $8.97 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Vestcor Inc grew its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 47.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,805 shares of the technology company's stock after buying an additional 15,915 shares during the period. Vestcor Inc's holdings in GoDaddy were worth $8,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC raised its position in shares of GoDaddy by 123.4% during the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after purchasing an additional 79 shares during the period. Park Square Financial Group LLC acquired a new stake in GoDaddy in the 1st quarter valued at approximately $27,000. Private Trust Co. NA raised its position in GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after buying an additional 136 shares during the last quarter. GW&K Investment Management LLC raised its position in GoDaddy by 307.9% in the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after buying an additional 194 shares during the last quarter. Finally, City Holding Co. raised its position in 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 last quarter. Institutional investors own 90.28% of the company's stock.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the transaction, the chief accounting officer owned 21,198 shares of the company's stock, valued at $3,770,488.26. This represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $179.68, for a total value of $89,840.00. Following the completion of the transaction, the director directly owned 21,957 shares of the company's stock, valued at approximately $3,945,233.76. The trade was a 2.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,257 shares of company stock worth $11,575,910. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $5.16 during midday trading on Friday, hitting $156.42. 1,888,660 shares of the company's stock were exchanged, compared to its average volume of 1,480,242. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy Inc. has a 12 month low of $144.72 and a 12 month high of $216.00. The company's 50 day moving average price is $175.07 and its 200 day moving average price is $181.89. The firm has a market capitalization of $22.29 billion, a PE ratio of 30.08 and a beta of 1.05.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GDDY. Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Jefferies Financial Group dropped their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. 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. Royal Bank Of Canada reissued an "outperform" rating and issued a $225.00 target price on shares of GoDaddy in a research report on Monday, June 23rd. Finally, Barclays decreased their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy 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.