GoDaddy Inc. $GDDY Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in GoDaddy Inc. (NYSE:GDDY) by 24.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GDDY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in GoDaddy in the fourth quarter valued at $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth about $25,000. Activest Wealth Management grew its holdings in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of GoDaddy by 93.8% during the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after buying an additional 180 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the sale, the chief executive officer directly owned 521,747 shares in the company, valued at approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $355,665.88. Following the sale, the chief financial officer directly owned 109,228 shares in the company, valued at $9,815,228.08. This trade represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 16,751 shares of company stock valued at $1,480,228. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. Benchmark lowered their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. UBS Group started coverage on GoDaddy in a research note on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company. Finally, Wells Fargo & Company increased their price target on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.43.

GoDaddy Stock Performance

NYSE:GDDY opened at $94.89 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $171.42. The stock has a market cap of $12.56 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.85 and a beta of 0.89. The firm’s fifty day simple moving average is $85.67 and its 200-day simple moving average is $90.14.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 earnings per share. Analysts expect that GoDaddy Inc. will post 7.15 earnings per share for the current fiscal year.

GoDaddy Company Profile

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.