State of Alaska Department of Revenue Sells 1,510 Shares of GoDaddy Inc. (NYSE:GDDY)

State of Alaska Department of Revenue lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,170 shares of the technology company’s stock after selling 1,510 shares during the period. State of Alaska Department of Revenue’s holdings in GoDaddy were worth $7,532,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of GDDY. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy during the 3rd quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the third quarter worth approximately $30,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy during the third quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $43,000. Finally, Friedenthal Financial bought a new position in shares of GoDaddy during the fourth quarter worth approximately $49,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock opened at $210.71 on Friday. The stock has a market cap of $29.58 billion, a PE ratio of 16.28 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12-month low of $107.92 and a 12-month high of $216.00. The business’s 50-day moving average price is $203.64 and its two-hundred day moving average price is $177.05.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,983 shares of company stock worth $4,983,133 in the last three months. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Citigroup increased their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.53.

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.