Teachers Retirement System of The State of Kentucky Decreases Holdings in GoDaddy Inc. (NYSE:GDDY)

Teachers Retirement System of The State of Kentucky lessened its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 40.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,418 shares of the technology company's stock after selling 6,997 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in GoDaddy were worth $2,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. WCM Investment Management LLC increased its position in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Norges Bank bought a new stake in shares of GoDaddy during the 4th quarter valued at $356,038,000. Canada Pension Plan Investment Board lifted its holdings in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after purchasing an additional 719,000 shares in the last quarter. Congress Asset Management Co. bought a new position in GoDaddy in the 4th quarter worth about $111,923,000. Finally, Amundi grew its holdings in GoDaddy by 84.4% during the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock valued at $183,710,000 after buying an additional 426,501 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Trading Down 1.1 %

GDDY stock traded down $2.00 during trading on Wednesday, reaching $186.46. The company had a trading volume of 635,260 shares, compared to its average volume of 1,538,228. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 52 week low of $120.59 and a 52 week high of $216.00. The business has a 50 day moving average of $175.77 and a 200 day moving average of $186.89. The company has a market cap of $26.36 billion, a P/E ratio of 28.91 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the transaction, the chief financial officer now directly owns 115,375 shares in the company, valued at approximately $20,750,193.75. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at approximately $44,130,990.75. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,518,150 over the last quarter. Corporate insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GDDY. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Barclays boosted their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Piper Sandler increased their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Citigroup dropped their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.60.

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.