Illinois Municipal Retirement Fund Buys 2,298 Shares of GoDaddy Inc. $GDDY

Illinois Municipal Retirement Fund increased its stake in GoDaddy Inc. (NYSE:GDDY) by 6.7% in the 2nd quarter, Holdings Channel reports. The firm owned 36,604 shares of the technology company’s stock after purchasing an additional 2,298 shares during the period. Illinois Municipal Retirement Fund’s holdings in GoDaddy were worth $6,591,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock worth $402,946,000 after acquiring an additional 1,610,890 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of GoDaddy by 41.1% in the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company’s stock worth $439,525,000 after purchasing an additional 710,842 shares during the period. Pacer Advisors Inc. increased its stake in shares of GoDaddy by 893.4% in the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company’s stock worth $116,685,000 after purchasing an additional 582,539 shares during the period. National Bank of Canada FI lifted its position in shares of GoDaddy by 719.5% during the 1st quarter. National Bank of Canada FI now owns 538,514 shares of the technology company’s stock worth $97,008,000 after purchasing an additional 472,805 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company’s stock valued at $3,266,697,000 after purchasing an additional 462,807 shares during the period. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Morgan Stanley set a $159.00 target price on shares of GoDaddy in a research report on Friday, October 31st. Evercore ISI decreased their price target on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company decreased their target price on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $184.07.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total value of $900,000.00. Following the sale, the chief executive officer owned 406,065 shares of the company’s stock, valued at $60,909,750. The trade was a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, September 15th. The shares were sold at an average price of $145.71, for a total value of $145,710.00. Following the transaction, the chief operating officer directly owned 251,949 shares of the company’s stock, valued at approximately $36,711,488.79. The trade was a 0.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 20,553 shares of company stock valued at $2,969,057. Corporate insiders own 0.70% of the company’s stock.

GoDaddy Trading Up 0.1%

Shares of GDDY stock opened at $131.64 on Wednesday. GoDaddy Inc. has a 52-week low of $125.00 and a 52-week high of $216.00. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.36 and a beta of 0.96. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a fifty day moving average of $137.11 and a 200-day moving average of $158.55.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.