Alaska Permanent Fund Corp Sells 3,791 Shares of GoDaddy Inc. (NYSE:GDDY)

Alaska Permanent Fund Corp cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,232 shares of the technology company’s stock after selling 3,791 shares during the period. Alaska Permanent Fund Corp’s holdings in GoDaddy were worth $1,723,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy during the 4th quarter worth $4,204,000. SG Americas Securities LLC raised its stake in shares of GoDaddy by 644.6% during the 4th quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after purchasing an additional 129,547 shares during the period. Horrell Capital Management Inc. raised its stake in shares of GoDaddy by 41.7% during the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after purchasing an additional 20,000 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of GoDaddy during the 4th quarter worth $773,000. Finally, Lecap Asset Management Ltd. bought a new stake in shares of GoDaddy during the 4th quarter worth $2,328,000. 90.28% of the stock is currently owned by institutional investors.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00. Following the transaction, the chief operating officer now directly owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00. Following the transaction, the chief operating officer now directly owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at approximately $14,055,912.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,234 shares of company stock valued at $13,534,946. Insiders own 0.54% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY stock opened at $124.14 on Friday. The stock has a market cap of $17.69 billion, a price-to-earnings ratio of 12.96 and a beta of 1.12. The business’s fifty day moving average is $118.46 and its 200 day moving average is $104.43. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a report on Thursday, March 7th. Barclays lifted their price objective on GoDaddy from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Piper Sandler lifted their target price on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, Raymond James assumed coverage on GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price for the company. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.18.

About GoDaddy

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.