Louisiana State Employees Retirement System Acquires New Position in GoDaddy Inc. (NYSE:GDDY)

Louisiana State Employees Retirement System purchased a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 39,600 shares of the technology company's stock, valued at approximately $4,204,000.

Several other large investors have also recently made changes to their positions in GDDY. Morgan Stanley boosted its stake in shares of GoDaddy by 517.4% in the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company's stock worth $458,311,000 after buying an additional 5,133,332 shares during the last quarter. Starboard Value LP raised its holdings in GoDaddy by 23.9% in the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company's stock worth $765,637,000 after purchasing an additional 1,973,118 shares during the period. Norges Bank purchased a new position in GoDaddy during the fourth quarter worth approximately $116,303,000. Goldman Sachs Group Inc. boosted its position in GoDaddy by 108.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company's stock worth $116,903,000 after purchasing an additional 727,582 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in GoDaddy by 201.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,068,773 shares of the technology company's stock worth $83,065,000 after purchasing an additional 713,798 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GDDY. JPMorgan Chase & Co. raised their target price on GoDaddy from $128.00 to $136.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Barclays raised their target price on GoDaddy from $125.00 to $130.00 and gave the company an "overweight" rating in a research report on Tuesday, February 20th. B. Riley raised their target price on GoDaddy from $124.00 to $142.00 and gave the company a "buy" rating in a research report on Thursday, March 7th. StockNews.com upgraded GoDaddy from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 14th. Finally, Raymond James began coverage on GoDaddy in a research report on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 target price on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and a consensus price target of $135.18.

GoDaddy Stock Down 1.5 %

NYSE GDDY traded down $1.88 during trading on Monday, reaching $121.42. 1,037,795 shares of the company's stock were exchanged, compared to its average volume of 1,498,066. The stock has a market cap of $17.30 billion, a P/E ratio of 12.67 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The company has a 50 day moving average price of $116.78 and a two-hundred day moving average price of $102.12. GoDaddy Inc. has a 1 year low of $67.43 and a 1 year high of $127.15.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of the company'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 sale, the chief operating officer now owns 208,632 shares of the company's stock, valued at approximately $23,806,997.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the sale, the chief executive officer now directly owns 394,423 shares in the company, valued at $43,599,518.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold a total of 121,234 shares of company stock worth $13,534,946 in the last quarter. Company insiders own 0.54% of the company's stock.

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.