State of Michigan Retirement System Acquires 400 Shares of GoDaddy Inc. $GDDY

State of Michigan Retirement System grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 1.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 38,700 shares of the technology company’s stock after buying an additional 400 shares during the period. State of Michigan Retirement System’s holdings in GoDaddy were worth $6,968,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GDDY. Cornerstone Planning Group LLC boosted its holdings in shares of GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of GoDaddy during the 2nd quarter valued at $26,000. Park Square Financial Group LLC bought a new stake in shares of GoDaddy during the 1st quarter valued at $27,000. Private Trust Co. NA boosted its holdings in shares of GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock valued at $29,000 after buying an additional 136 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of GoDaddy during the 1st quarter valued at $30,000. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 777 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $110,497.17. Following the transaction, the chief accounting officer owned 20,421 shares in the company, valued at approximately $2,904,070.41. This represents a 3.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 3,326 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $472,990.46. Following the transaction, the chief financial officer owned 70,133 shares in the company, valued at $9,973,613.93. This represents a 4.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 20,703 shares of company stock worth $2,994,243. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GDDY shares. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the company an “overweight” rating in a report on Friday, August 8th. Morgan Stanley set a $159.00 price target on shares of GoDaddy in a research note on Friday. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research note on Friday. Finally, Wells Fargo & Company dropped 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 note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $184.07.

GoDaddy Price Performance

GDDY opened at $135.17 on Tuesday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $18.71 billion, a P/E ratio of 24.14, a P/E/G ratio of 1.36 and a beta of 0.98. The company’s 50-day simple moving average is $138.84 and its two-hundred day simple moving average is $160.33. GoDaddy Inc. has a 52-week low of $125.00 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

GoDaddy 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.