Kentucky Retirement Systems Insurance Trust Fund Has $654,000 Stock Position in GoDaddy Inc. (NYSE:GDDY)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 8.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,174 shares of the technology company’s stock after selling 372 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in GoDaddy were worth $654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GDDY. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy in the third quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new position in GoDaddy in the 2nd quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy in the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new stake in shares of GoDaddy during the 2nd quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of GoDaddy during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.2 %

GoDaddy stock opened at $185.11 on Tuesday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $91.86 and a fifty-two week high of $190.21. The firm has a fifty day moving average price of $162.76 and a two-hundred day moving average price of $151.41. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of 14.31 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. As a group, analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Robert W. Baird raised their price target on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. B. Riley boosted their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Raymond James lifted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $171.38.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,844 shares of company stock valued at $4,619,397. 0.61% of the stock is owned by company insiders.

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.