State of New Jersey Common Pension Fund D Sells 3,301 Shares of GoDaddy Inc. (NYSE:GDDY)

State of New Jersey Common Pension Fund D cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 81,789 shares of the technology company’s stock after selling 3,301 shares during the period. State of New Jersey Common Pension Fund D’s holdings in GoDaddy were worth $8,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after buying an additional 561,614 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after acquiring an additional 695,897 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock valued at $106,890,000 after acquiring an additional 674,719 shares in the last quarter. Northern Trust Corp lifted its stake in GoDaddy by 36.8% during the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock valued at $103,946,000 after acquiring an additional 375,568 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after acquiring an additional 928,273 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GDDY. Benchmark restated a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a research note on Thursday, March 7th. Barclays raised their price objective on GoDaddy from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. raised their target price on GoDaddy from $128.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. B. Riley raised their target price on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.18.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark Mccaffrey sold 624 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Nick Daddario sold 1,823 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares in the company, valued at $2,792,572.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,234 shares of company stock worth $13,534,946. 0.54% of the stock is currently owned by insiders.

GoDaddy Price Performance

Shares of GDDY traded up $0.81 during trading hours on Friday, reaching $124.95. 995,584 shares of the company’s stock traded hands, compared to its average volume of 1,451,315. The firm’s 50 day simple moving average is $118.46 and its 200-day simple moving average is $104.43. The stock has a market cap of $17.80 billion, a PE ratio of 12.96 and a beta of 1.12. GoDaddy Inc. has a 12 month low of $67.43 and a 12 month high of $127.15. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. Equities analysts expect that GoDaddy Inc. will post 4.76 EPS for the current year.

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.