GoDaddy Inc. $GDDY Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 94.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,169 shares of the technology company’s stock after selling 225,329 shares during the quarter. Public Sector Pension Investment Board’s holdings in GoDaddy were worth $1,939,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of GoDaddy by 20.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock worth $17,888,000 after purchasing an additional 17,200 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after purchasing an additional 10,631 shares in the last quarter. GDS Wealth Management boosted its position in shares of GoDaddy by 16.3% during the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after buying an additional 8,388 shares during the period. Quantbot Technologies LP acquired a new stake in shares of GoDaddy in the second quarter valued at $15,659,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of GoDaddy in the 2nd quarter valued at $470,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GDDY. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Benchmark reissued a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. Cantor Fitzgerald cut their target price on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. dropped their price target on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.21.

GoDaddy Trading Up 2.1%

Shares of GDDY stock opened at $90.56 on Monday. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. GoDaddy Inc. has a 1-year low of $87.13 and a 1-year high of $193.55. The firm has a market capitalization of $12.24 billion, a PE ratio of 15.64, a P/E/G ratio of 0.82 and a beta of 0.94. The business’s fifty day moving average price is $108.75 and its 200 day moving average price is $126.57.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the transaction, the chief executive officer owned 399,133 shares in the company, valued at $51,065,076.02. The trade was a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,615 shares of company stock valued at $1,743,102 over the last quarter. Insiders own 0.70% of the company’s stock.

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.