New York State Common Retirement Fund Trims Holdings in GoDaddy Inc. (NYSE:GDDY)

New York State Common Retirement Fund decreased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 31.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 233,214 shares of the technology company’s stock after selling 108,494 shares during the period. New York State Common Retirement Fund owned 0.16% of GoDaddy worth $36,563,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GDDY. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy in the second quarter worth about $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy in the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter valued at $32,000. International Assets Investment Management LLC purchased a new position in shares of GoDaddy during the 2nd quarter valued at $36,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of GoDaddy in the first quarter worth $45,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $163.36 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market cap of $23.03 billion, a PE ratio of 12.62 and a beta of 1.11. The company’s fifty day moving average is $159.18 and its 200 day moving average is $147.27. GoDaddy Inc. has a 52 week low of $74.12 and a 52 week high of $171.93.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts anticipate that GoDaddy Inc. will post 5.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,744 shares of company stock valued at $4,089,571 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada upped their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, B. Riley increased their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $171.38.

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.