293,700 Shares in GoDaddy Inc. $GDDY Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 293,700 shares of the technology company’s stock, valued at approximately $24,929,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.23% of GoDaddy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sivia Capital Partners LLC boosted its position in shares of GoDaddy by 90.3% during the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after buying an additional 1,552 shares during the period. Cerity Partners LLC raised its stake in GoDaddy by 50.0% during the 2nd quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock valued at $4,896,000 after acquiring an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in GoDaddy by 83.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock valued at $28,016,000 after acquiring an additional 70,585 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in GoDaddy during the 2nd quarter worth $152,000. Finally, Main Street Financial Solutions LLC boosted its position in GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after acquiring an additional 119 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Bhutani sold 8,194 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $101.19, for a total transaction of $829,150.86. Following the completion of the sale, the chief executive officer directly owned 504,553 shares of the company’s stock, valued at $51,055,718.07. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 530 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $101.19, for a total value of $53,630.70. Following the completion of the transaction, the chief accounting officer owned 17,204 shares of the company’s stock, valued at $1,740,872.76. This trade represents a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 26,858 shares of company stock worth $2,593,081. 0.93% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on GDDY shares. JPMorgan Chase & Co. lowered their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Wedbush reduced their price objective on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Raymond James Financial lowered shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 target price for the company. in a research report on Friday, July 31st. B. Riley Financial lowered their target price on shares of GoDaddy from $190.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $90.00 target price on shares of GoDaddy in a research note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $110.07.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $101.34 on Tuesday. The stock has a fifty day moving average price of $93.87 and a two-hundred day moving average price of $87.98. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $12.83 billion, a P/E ratio of 15.04, a PEG ratio of 0.91 and a beta of 0.94. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $150.47.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, July 30th. The technology company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.69 by $0.14. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share. Research analysts forecast that GoDaddy Inc. will post 7.21 EPS for the current fiscal year.

GoDaddy 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.