California Public Employees Retirement System Has $28.66 Million Stock Holdings in GoDaddy Inc. $GDDY

California Public Employees Retirement System lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 346,712 shares of the technology company’s stock after selling 18,342 shares during the quarter. California Public Employees Retirement System’s holdings in GoDaddy were worth $28,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of GoDaddy by 5.7% in the fourth quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after buying an additional 50,959 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in GoDaddy during the fourth quarter worth $9,303,000. Swedbank AB raised its position in GoDaddy by 433.9% during the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after acquiring an additional 524,811 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in GoDaddy by 22,341.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock valued at $14,535,000 after acquiring an additional 116,620 shares during the last quarter. Finally, Norges Bank acquired a new stake in GoDaddy in the fourth quarter valued at $250,020,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $92.35 on Wednesday. The firm has a 50-day moving average of $85.78 and a 200-day moving average of $89.91. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $12.23 billion, a PE ratio of 14.61, a P/E/G ratio of 0.86 and a beta of 0.89. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $171.42.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 7.15 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on GDDY shares. UBS Group started coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Benchmark reduced their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.43.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the sale, the chief financial officer owned 105,728 shares in the company, valued at $8,766,965.76. The trade was a 3.20% 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, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the completion of the transaction, the director directly owned 5,708 shares in the company, valued at $501,390.72. The trade was a 5.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 16,751 shares of company stock worth $1,480,228. Insiders own 0.93% of the company’s stock.

GoDaddy Profile

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.