Illinois Municipal Retirement Fund decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 24.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,892 shares of the technology company’s stock after selling 8,512 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in GoDaddy were worth $2,223,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GoDaddy in the 4th quarter worth $25,000. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy during the 4th quarter valued at about $25,000. Activest Wealth Management boosted its position in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of GoDaddy by 93.8% in the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock valued at $30,000 after purchasing an additional 180 shares during the period. Finally, Harbour Investments Inc. grew its holdings in shares of GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after purchasing an additional 170 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.
GoDaddy Price Performance
GDDY stock opened at $94.89 on Tuesday. The business has a 50 day moving average price of $85.67 and a 200 day moving average price of $90.14. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.85 and a beta of 0.89. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $171.42.
Insider Activity at GoDaddy
In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the transaction, the chief executive officer owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,500 shares of GoDaddy stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.92, for a total value of $290,220.00. Following the sale, the chief financial officer owned 105,728 shares in the company, valued at $8,766,965.76. This trade represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,751 shares of company stock valued at $1,480,228 in the last ninety days. 0.93% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
GDDY has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. JPMorgan Chase & Co. decreased their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Finally, Benchmark lowered their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $118.43.
View Our Latest Stock Report on GoDaddy
About GoDaddy
GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.
Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.
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