Public Sector Pension Investment Board Sells 8,341 Shares of GoDaddy Inc. $GDDY

Public Sector Pension Investment Board lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 3.4% in the second quarter, Holdings Channel reports. The institutional investor owned 239,498 shares of the technology company’s stock after selling 8,341 shares during the period. Public Sector Pension Investment Board’s holdings in GoDaddy were worth $43,124,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Bayforest Capital Ltd bought a new stake in GoDaddy in the 2nd quarter valued at about $26,000. NewSquare Capital LLC raised its position in shares of GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after buying an additional 94 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of GoDaddy in the first quarter valued at approximately $36,000. Steph & Co. acquired a new stake in GoDaddy during the second quarter worth approximately $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in GoDaddy by 252.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 345 shares of the technology company’s stock worth $62,000 after buying an additional 247 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the sale, the chief executive officer owned 399,133 shares in the company, valued at $51,065,076.02. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the transaction, the director owned 19,957 shares of the company’s stock, valued at $2,656,476.27. This represents a 2.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,615 shares of company stock worth $2,023,652 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

GoDaddy Trading Down 1.0%

GDDY opened at $124.78 on Friday. The company’s 50 day moving average is $129.90 and its 200-day moving average is $149.41. GoDaddy Inc. has a 1-year low of $121.94 and a 1-year high of $216.00. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The company has a market cap of $16.86 billion, a P/E ratio of 21.55, a PEG ratio of 1.39 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $1.32 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of GoDaddy in a research report on Friday, October 31st. UBS Group cut their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Morgan Stanley set a $159.00 target price on shares of GoDaddy in a report on Friday, October 31st. JPMorgan Chase & Co. cut their price target on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Wells Fargo & Company reduced their price target on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.14.

GoDaddy Company 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.