California Public Employees Retirement System Sells 18,342 Shares of GoDaddy Inc. $GDDY

California Public Employees Retirement System trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 346,712 shares of the technology company’s stock after selling 18,342 shares during the period. California Public Employees Retirement System owned approximately 0.26% of GoDaddy worth $28,663,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. raised its holdings in GoDaddy by 4.8% in the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after purchasing an additional 86 shares during the period. Main Street Financial Solutions LLC grew its holdings in shares of GoDaddy by 1.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after buying an additional 119 shares during the period. Lido Advisors LLC grew its holdings in shares of GoDaddy by 6.2% in the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock valued at $283,000 after buying an additional 121 shares during the period. Martin Capital Advisors LLP increased its position in shares of GoDaddy by 1.5% in the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock valued at $1,127,000 after buying an additional 130 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of GoDaddy by 18.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company’s stock valued at $103,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 542 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 $48,704.12. Following the sale, the chief accounting officer owned 19,995 shares in the company, valued at approximately $1,796,750.70. The trade was a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $82.92, for a total value of $290,220.00. Following the transaction, the chief financial officer directly owned 105,728 shares of the company’s stock, valued at approximately $8,766,965.76. This trade represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,751 shares of company stock worth $1,480,228 in the last 90 days. 0.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

GoDaddy Price Performance

Shares of NYSE GDDY opened at $92.35 on Wednesday. The company has a fifty day moving average price of $85.78 and a 200 day moving average price of $89.91. The firm has a market cap of $12.23 billion, a PE ratio of 14.61, a PEG ratio of 0.86 and a beta of 0.89. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 1-year low of $71.59 and a 1-year high of $171.42.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. Research analysts predict 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.