6,900 Shares in GoDaddy Inc. $GDDY Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,900 shares of the technology company’s stock, valued at approximately $570,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Coldstream Capital Management Inc. boosted its stake in shares of GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after purchasing an additional 86 shares during the period. Main Street Financial Solutions LLC increased its stake in GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after buying an additional 119 shares during the period. Lido Advisors LLC lifted its holdings in GoDaddy by 6.2% during the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock valued at $283,000 after buying an additional 121 shares in the last quarter. Martin Capital Advisors LLP lifted its holdings in GoDaddy by 1.5% during the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock valued at $1,127,000 after buying an additional 130 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in GoDaddy by 18.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company’s stock valued at $103,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY opened at $89.40 on Wednesday. The company has a market cap of $11.84 billion, a PE ratio of 14.15, a P/E/G ratio of 0.77 and a beta of 0.89. The firm’s 50 day moving average price is $84.89 and its 200-day moving average price is $92.37. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $179.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 earnings per share. Sell-side analysts forecast that GoDaddy Inc. will post 7.13 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the transaction, the chief executive officer directly owned 521,747 shares in the company, valued at approximately $46,884,185.42. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the sale, the director owned 5,708 shares in the company, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,751 shares of company stock valued at $1,480,228. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GDDY. Benchmark reduced their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. Piper Sandler assumed coverage on GoDaddy in a report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price objective on the stock. Wells Fargo & Company lifted their target price on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.43.

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.