State Board of Administration of Florida Retirement System Sells 3,491 Shares of GoDaddy Inc. (NYSE:GDDY)

State Board of Administration of Florida Retirement System lessened its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.6% during the second quarter, Holdings Channel.com reports. The firm owned 220,366 shares of the technology company’s stock after selling 3,491 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in GoDaddy were worth $19,163,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GDDY. Rockefeller Capital Management L.P. increased its stake in GoDaddy by 176.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 390 shares of the technology company’s stock worth $30,000 after purchasing an additional 249 shares during the period. Barrett Asset Management LLC purchased a new position in shares of GoDaddy in the first quarter worth $55,000. Sowell Financial Services LLC raised its holdings in GoDaddy by 737.7% during the 1st quarter. Sowell Financial Services LLC now owns 1,022 shares of the technology company’s stock valued at $83,000 after buying an additional 900 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in GoDaddy by 54.8% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,214 shares of the technology company’s stock valued at $106,000 after buying an additional 430 shares during the period. Finally, Tradition Wealth Management LLC bought a new stake in GoDaddy in the 2nd quarter worth $197,000. 95.68% of the stock is owned by institutional investors and hedge funds.

Shares of GoDaddy stock opened at $72.41 on Friday. GoDaddy Inc. has a 12 month low of $68.66 and a 12 month high of $93.75. The firm has a market capitalization of $12.25 billion, a P/E ratio of 64.65, a P/E/G ratio of 1.98 and a beta of 0.98. The business has a fifty day simple moving average of $77.24 and a two-hundred day simple moving average of $80.33.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, August 4th. The technology company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The business had revenue of $931.30 million for the quarter, compared to analysts’ expectations of $920.26 million. GoDaddy had a net margin of 5.43% and a negative return on equity of 277.41%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business earned ($4.06) earnings per share. As a group, equities analysts expect that GoDaddy Inc. will post 1.09 EPS for the current year.

GDDY has been the subject of a number of analyst reports. Piper Sandler lowered shares of GoDaddy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $100.00 to $85.00 in a report on Thursday, August 5th. Raymond James lifted their price objective on GoDaddy from $107.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 5th. Zacks Investment Research downgraded GoDaddy from a “buy” rating to a “sell” rating and set a $77.00 target price for the company. in a report on Friday, August 6th. Wedbush raised their price target on GoDaddy from $92.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Finally, Barclays boosted their price objective on shares of GoDaddy from $107.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $97.92.

In related news, CEO Amanpal Singh Bhutani sold 2,980 shares of the firm’s stock in a transaction that occurred on Friday, July 2nd. The stock was sold at an average price of $88.69, for a total transaction of $264,296.20. Following the completion of the transaction, the chief executive officer now owns 156,094 shares of the company’s stock, valued at approximately $13,843,976.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.

About GoDaddy

GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons on January 1997 and is headquartered in Scottsdale, AZ.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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