New York State Teachers Retirement System Has $11.15 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

New York State Teachers Retirement System increased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 31.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,994 shares of the technology company's stock after buying an additional 25,382 shares during the period. New York State Teachers Retirement System owned about 0.07% of GoDaddy worth $11,146,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of GoDaddy by 0.7% during the first quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company's stock valued at $1,356,131,000 after buying an additional 107,949 shares during the period. Starboard Value LP boosted its position in GoDaddy by 23.9% during the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company's stock valued at $765,637,000 after purchasing an additional 1,973,118 shares in the last quarter. BlackRock Inc. boosted its position in GoDaddy by 2.0% during the first quarter. BlackRock Inc. now owns 8,512,278 shares of the technology company's stock valued at $661,574,000 after purchasing an additional 163,174 shares in the last quarter. Ameriprise Financial Inc. boosted its position in GoDaddy by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company's stock valued at $473,713,000 after purchasing an additional 561,614 shares in the last quarter. Finally, Morgan Stanley boosted its position in GoDaddy by 517.4% during the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company's stock valued at $458,311,000 after purchasing an additional 5,133,332 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GoDaddy stock traded up $1.40 on Thursday, reaching $126.61. 844,413 shares of the stock were exchanged, compared to its average volume of 1,506,760. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The firm has a market capitalization of $18.04 billion, a price-to-earnings ratio of 13.22 and a beta of 1.12. The business has a 50 day moving average price of $116.23 and a two-hundred day moving average price of $101.03.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. Analysts anticipate that GoDaddy Inc. will post 4.76 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Nick Daddario sold 1,823 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 4,000 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company's stock, valued at $23,806,997.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,234 shares of company stock worth $13,534,946. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler raised their price objective on GoDaddy from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, March 7th. UBS Group raised their price objective on GoDaddy from $110.00 to $118.00 and gave the company a "neutral" rating in a research report on Wednesday, February 14th. Raymond James assumed coverage on GoDaddy in a report on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price target for the company. Barclays raised their price target on GoDaddy from $125.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. Finally, B. Riley raised their price target on GoDaddy from $124.00 to $142.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.18.

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.