Board of the Pension Protection Fund Purchases 10,600 Shares of GoDaddy Inc. $GDDY

Board of the Pension Protection Fund lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 883.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,800 shares of the technology company’s stock after purchasing an additional 10,600 shares during the quarter. Board of the Pension Protection Fund’s holdings in GoDaddy were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Hemington Wealth Management lifted its position in GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the period. Coldstream Capital Management Inc. increased its holdings in GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after buying an additional 86 shares during the period. MAI Capital Management raised its stake in shares of GoDaddy by 9.7% in the 2nd quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock valued at $203,000 after buying an additional 100 shares in the last quarter. Clearstead Advisors LLC raised its stake in shares of GoDaddy by 0.9% in the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock valued at $1,686,000 after buying an additional 104 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of GoDaddy by 2.1% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,581 shares of the technology company’s stock worth $764,000 after acquiring an additional 113 shares during the period. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Down 0.5%

GDDY opened at $83.68 on Friday. The firm’s 50-day simple moving average is $94.73 and its 200-day simple moving average is $119.22. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $193.55. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.74 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.22. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Morgan Stanley dropped their price target on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Wells Fargo & Company cut their price target on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Piper Sandler initiated coverage on GoDaddy in a report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price objective on the stock. Finally, Royal Bank Of Canada lowered their price objective on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.57.

Insider Activity

In other news, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the completion of the transaction, the director owned 11,414 shares in the company, valued at approximately $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer directly owned 530,120 shares in the company, valued at $47,175,378.80. The trade was a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,918 shares of company stock worth $5,500,469. Corporate insiders own 0.70% of the company’s stock.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.