New York State Teachers Retirement System Sells 15,292 Shares of GoDaddy Inc. (NYSE:GDDY)

New York State Teachers Retirement System decreased its position in GoDaddy Inc. (NYSE:GDDY) by 14.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,229 shares of the technology company’s stock after selling 15,292 shares during the period. New York State Teachers Retirement System owned 0.06% of GoDaddy worth $12,606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in shares of GoDaddy during the second quarter worth approximately $32,000. V Square Quantitative Management LLC bought a new position in shares of GoDaddy in the 4th quarter worth $28,000. GAMMA Investing LLC increased its holdings in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in GoDaddy in the fourth quarter valued at about $33,000. Finally, New Covenant Trust Company N.A. bought a new position in GoDaddy during the first quarter worth about $45,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY opened at $162.45 on Friday. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50-day moving average of $147.76 and a 200-day moving average of $132.38. The company has a market cap of $23.18 billion, a PE ratio of 13.49 and a beta of 1.14. GoDaddy Inc. has a one year low of $70.03 and a one year high of $165.89.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned $0.63 EPS. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Insider Activity

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at $3,129,947.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the transaction, the chief accounting officer now directly owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The disclosure for this sale can be found here. Insiders have sold 49,413 shares of company stock valued at $6,931,096 over the last ninety days. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GDDY. Evercore ISI lifted their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. UBS Group upped their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Piper Sandler boosted their price objective on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.25.

About GoDaddy

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.