Maryland State Retirement & Pension System Sells 626 Shares of GoDaddy Inc. (NYSE:GDDY)

Maryland State Retirement & Pension System cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,465 shares of the technology company’s stock after selling 626 shares during the period. Maryland State Retirement & Pension System’s holdings in GoDaddy were worth $1,473,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. raised its position in GoDaddy by 2.5% in the fourth quarter. Xponance Inc. now owns 32,312 shares of the technology company’s stock worth $6,377,000 after acquiring an additional 779 shares during the period. Horizon Investments LLC raised its position in GoDaddy by 570.1% in the fourth quarter. Horizon Investments LLC now owns 12,812 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 10,900 shares during the period. Cibc World Markets Corp raised its position in GoDaddy by 16.1% in the fourth quarter. Cibc World Markets Corp now owns 22,205 shares of the technology company’s stock worth $4,383,000 after acquiring an additional 3,080 shares during the period. Gallacher Capital Management LLC bought a new position in GoDaddy in the fourth quarter worth approximately $265,000. Finally, Corient Private Wealth LLC raised its position in GoDaddy by 11.7% in the fourth quarter. Corient Private Wealth LLC now owns 7,683 shares of the technology company’s stock worth $1,516,000 after acquiring an additional 807 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $99,505.00. Following the completion of the sale, the director now owns 23,121 shares in the company, valued at approximately $4,601,310.21. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

GDDY stock opened at $180.49 on Friday. GoDaddy Inc. has a 12 month low of $118.39 and a 12 month high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a 50-day moving average price of $191.37 and a 200 day moving average price of $182.97. The stock has a market cap of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

GDDY has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Jefferies Financial Group raised their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, B. Riley raised their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

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.