Teachers Retirement System of The State of Kentucky Sells 25,664 Shares of GoDaddy Inc. (NYSE:GDDY)

Teachers Retirement System of The State of Kentucky reduced its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 59.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,415 shares of the technology company's stock after selling 25,664 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in GoDaddy were worth $2,731,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock worth $31,052,000 after buying an additional 6,424 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of GoDaddy in the 3rd quarter worth $1,132,000. Crossmark Global Holdings Inc. raised its position in shares of GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock worth $6,907,000 after purchasing an additional 9,631 shares during the period. Dai ichi Life Insurance Company Ltd boosted its position in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock valued at $9,410,000 after purchasing an additional 17,021 shares during the period. Finally, American Century Companies Inc. increased its stake in GoDaddy by 374.3% in the 2nd quarter. American Century Companies Inc. now owns 150,451 shares of the technology company's stock worth $21,020,000 after purchasing an additional 118,731 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the transaction, the chief executive officer now directly owns 348,956 shares in the company, valued at $54,297,553.60. This represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the sale, the chief financial officer now owns 93,102 shares in the company, valued at $14,486,671.20. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,503 shares of company stock worth $3,950,683 over the last 90 days. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GDDY. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Barclays boosted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. StockNews.com cut GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Finally, Piper Sandler upped their price target on GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $181.57.

GoDaddy Stock Up 1.1 %

Shares of GDDY traded up $2.25 during mid-day trading on Monday, hitting $209.03. 907,447 shares of the company's stock were exchanged, compared to its average volume of 1,458,022. The stock has a market cap of $29.35 billion, a price-to-earnings ratio of 16.15 and a beta of 1.15. The firm has a fifty day moving average of $180.63 and a two-hundred day moving average of $160.59. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a twelve month low of $99.90 and a twelve month high of $211.11.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business's revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current year.

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.