Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in GoDaddy Inc. (NYSE:GDDY – Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,065 shares of the technology company’s stock, valued at approximately $732,000.
A number of other hedge funds also recently made changes to their positions in the business. Intact Investment Management Inc. acquired a new position in shares of GoDaddy in the 1st quarter valued at $72,000. Praxis Investment Management Inc. bought a new stake in GoDaddy during the 1st quarter worth about $630,000. Alta Capital Management LLC boosted its stake in shares of GoDaddy by 0.5% in the 1st quarter. Alta Capital Management LLC now owns 77,090 shares of the technology company’s stock valued at $13,887,000 after purchasing an additional 381 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of GoDaddy by 113.6% in the 1st quarter. Blue Trust Inc. now owns 645 shares of the technology company’s stock valued at $116,000 after purchasing an additional 343 shares during the last quarter. Finally, Institute for Wealth Management LLC. bought a new position in shares of GoDaddy in the 1st quarter valued at about $362,000. Institutional investors and hedge funds own 90.28% of the company’s stock.
Insiders Place Their Bets
In related news, CAO Phontip Palitwanon sold 2,173 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the sale, the chief accounting officer now directly owns 21,198 shares in the company, valued at $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 owns 256,949 shares in the company, valued at $44,130,990.75. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,632 shares of company stock valued at $12,602,635. 0.61% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Get Our Latest Research Report on GoDaddy
GoDaddy Stock Up 1.3%
GDDY stock opened at $179.59 on Wednesday. The company has a market cap of $25.59 billion, a PE ratio of 34.54 and a beta of 1.07. The business has a 50-day simple moving average of $181.02 and a 200 day simple moving average of $187.49. GoDaddy Inc. has a 52 week low of $138.22 and a 52 week high of $216.00. 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 (NYSE:GDDY – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.76 EPS. Sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.
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.
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