Board of the Pension Protection Fund Takes $967,000 Position in GoDaddy Inc. (NYSE:GDDY)

Board of the Pension Protection Fund purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,900 shares of the technology company’s stock, valued at approximately $967,000. GoDaddy makes up approximately 1.1% of Board of the Pension Protection Fund’s holdings, making the stock its 27th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in GDDY. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after purchasing an additional 99 shares during the period. Equitable Trust Co. increased its stake in GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after purchasing an additional 107 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of GoDaddy by 22.4% during the third quarter. Covestor Ltd now owns 590 shares of the technology company’s stock worth $93,000 after purchasing an additional 108 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,003 shares of company stock worth $4,462,363. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Citigroup upped their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.14.

GoDaddy Price Performance

NYSE GDDY opened at $197.10 on Wednesday. GoDaddy Inc. has a 12 month low of $103.64 and a 12 month high of $211.11. The firm has a market capitalization of $27.67 billion, a PE ratio of 15.23 and a beta of 1.15. The company’s 50 day simple moving average is $197.41 and its 200 day simple moving average is $170.17. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. As a group, equities research analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current fiscal 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.