GoDaddy Inc. (NYSE:GDDY) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,376 shares of the technology company's stock after selling 6,934 shares during the quarter. Retirement Systems of Alabama owned 0.12% of GoDaddy worth $18,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. PGGM Investments increased its stake in GoDaddy by 12.2% during the 4th quarter. PGGM Investments now owns 43,890 shares of the technology company's stock worth $4,659,000 after buying an additional 4,774 shares during the period. Meritage Portfolio Management increased its position in shares of GoDaddy by 5.6% during the fourth quarter. Meritage Portfolio Management now owns 6,504 shares of the technology company's stock worth $690,000 after acquiring an additional 344 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of GoDaddy in the fourth quarter valued at $556,000. Signaturefd LLC boosted its holdings in GoDaddy by 9.2% in the fourth quarter. Signaturefd LLC now owns 2,207 shares of the technology company's stock valued at $234,000 after purchasing an additional 186 shares during the period. Finally, Lindbrook Capital LLC grew its stake in GoDaddy by 74.0% during the 4th quarter. Lindbrook Capital LLC now owns 731 shares of the technology company's stock worth $78,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY stock traded down $0.05 during trading hours on Wednesday, hitting $122.33. The stock had a trading volume of 1,733,303 shares, compared to its average volume of 1,450,317. The stock's 50 day moving average is $119.59 and its 200 day moving average is $105.98. The firm has a market capitalization of $17.43 billion, a PE ratio of 12.77 and a beta of 1.12. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price objective on GoDaddy from $120.00 to $132.00 and gave the company an "equal weight" rating in a research note on Thursday, March 14th. Royal Bank of Canada restated an "outperform" rating and issued a $124.00 price objective on shares of GoDaddy in a report on Thursday, March 7th. Robert W. Baird raised their price target on GoDaddy from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 25th. Raymond James started coverage on GoDaddy in a research report on Wednesday, March 27th. They set a "strong-buy" rating and a $150.00 price objective for the company. Finally, UBS Group boosted their target price on GoDaddy from $110.00 to $118.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $135.18.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The shares were 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 $23,806,997.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the stock in a transaction 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 transaction, the chief accounting officer now 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 is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm's stock in a transaction 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 directly owns 208,632 shares of the company's stock, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders sold 121,234 shares of company stock worth $13,534,946 over the last 90 days. 0.54% of the stock is currently owned by insiders.

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.