Public Employees Retirement System of Ohio Cuts Stake in GoDaddy Inc. (NYSE:GDDY)

Public Employees Retirement System of Ohio decreased its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,305 shares of the technology company's stock after selling 3,307 shares during the quarter. Public Employees Retirement System of Ohio's holdings in GoDaddy were worth $8,671,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GDDY. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 6,424 shares during the last quarter. Highland Capital Management LLC purchased a new position in shares of GoDaddy in the 3rd quarter worth $1,132,000. Swedbank AB grew its holdings in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company's stock worth $21,425,000 after acquiring an additional 5,247 shares during the period. Crossmark Global Holdings Inc. increased its position in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock valued at $6,907,000 after acquiring an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its holdings in GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock valued at $9,410,000 after acquiring an additional 17,021 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Price Performance

Shares of GDDY traded down $2.18 during mid-day trading on Friday, hitting $206.73. 784,906 shares of the stock were exchanged, compared to its average volume of 1,460,180. The firm has a 50-day moving average of $180.63 and a two-hundred day moving average of $160.28. GoDaddy Inc. has a 52-week low of $99.90 and a 52-week high of $210.30. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $29.02 billion, a PE ratio of 15.98 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business's revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. On average, equities analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Robert W. Baird lifted their target price on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. StockNews.com cut GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $170.00 target price on shares of GoDaddy in a report 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $181.57.

Insider Activity at GoDaddy

In related news, CAO Phontip Palitwanon sold 770 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares of the company's stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy 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 sale, the chief operating officer now owns 187,632 shares of the company's stock, valued at $28,551,961.44. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,503 shares of company stock worth $4,102,853. Company insiders own 0.61% of the company's stock.

GoDaddy 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.