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

Board of the Pension Protection Fund purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,900 shares of the technology company's stock, valued at approximately $967,000. GoDaddy makes up about 1.1% of Board of the Pension Protection Fund's holdings, making the stock its 27th biggest holding.

Other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock worth $1,080,549,000 after buying an additional 147,105 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GoDaddy by 2.5% in the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock worth $535,153,000 after acquiring an additional 84,550 shares during the last quarter. FMR LLC increased its position in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after purchasing an additional 274,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company's stock worth $214,584,000 after purchasing an additional 203,909 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company's stock valued at $120,305,000 after buying an additional 235,934 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded up $1.53 during trading on Wednesday, reaching $199.01. 1,627,037 shares of the company's stock traded hands, compared to its average volume of 1,076,601. The stock has a market capitalization of $27.94 billion, a P/E ratio of 15.38 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $103.64 and a 12 month high of $211.11. The company has a 50 day moving average of $197.41 and a 200-day moving average of $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 - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The business 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 business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GDDY shares. StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Jefferies Financial Group lifted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. B. Riley raised their target price on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $194.14.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at approximately $66,300,778.53. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the sale, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This represents a 6.12 % 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 insiders.

GoDaddy Company 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.