Ontario Teachers Pension Plan Board Sells 6,540 Shares of GoDaddy Inc. (NYSE:GDDY)

Ontario Teachers Pension Plan Board lowered its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 52.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,920 shares of the technology company's stock after selling 6,540 shares during the period. Ontario Teachers Pension Plan Board's holdings in GoDaddy were worth $928,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings 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 valued at $2,837,000 after buying an additional 67 shares during the period. Prime Capital Investment Advisors LLC increased its position in shares of GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company's stock worth $296,000 after acquiring an additional 73 shares in the last quarter. Whittier Trust Co. increased its position in shares of GoDaddy by 4.3% in the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company's stock worth $249,000 after acquiring an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its position in GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company's stock valued at $153,000 after purchasing an additional 99 shares in the last quarter. Finally, Equitable Trust Co. grew its position in GoDaddy by 1.3% in the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company's stock worth $1,322,000 after acquiring an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Robert W. Baird upped their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday. Barclays lifted their price target 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. Benchmark boosted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, GoDaddy has an average rating of "Moderate Buy" and an average target price of $173.31.

Insider Buying and Selling

In other news, CAO Nick Daddario sold 2,976 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares of the company's stock, valued at $2,232,912.08. The trade was a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the transaction, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,845 shares of company stock worth $4,803,380 in the last quarter. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY traded up $1.77 during trading on Thursday, hitting $191.89. 230,786 shares of the stock were exchanged, compared to its average volume of 1,453,645. GoDaddy Inc. has a 12-month low of $94.50 and a 12-month high of $192.08. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a fifty day moving average price of $164.93 and a two-hundred day moving average price of $152.55. The company has a market cap of $26.94 billion, a PE ratio of 14.84 and a beta of 1.11.

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 (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.89 EPS. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts forecast that GoDaddy Inc. will post 4.95 EPS 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.