Convergence Investment Partners LLC Sells 2,117 Shares of GoDaddy Inc. (NYSE:GDDY)

Convergence Investment Partners LLC lowered its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 14.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,989 shares of the technology company’s stock after selling 2,117 shares during the period. Convergence Investment Partners LLC’s holdings in GoDaddy were worth $2,564,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. State Street Corp raised its stake in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after acquiring an additional 147,105 shares during the last quarter. Geode Capital Management LLC raised its stake in GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after buying an additional 84,550 shares during the last quarter. WCM Investment Management LLC raised its stake in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after buying an additional 3,356,678 shares during the last quarter. FMR LLC raised its stake in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after buying an additional 203,909 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY stock opened at $180.93 on Wednesday. The firm has a market cap of $25.40 billion, a price-to-earnings ratio of 28.05 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a 52 week low of $108.02 and a 52 week high of $216.00. The firm’s 50-day simple moving average is $203.78 and its two-hundred day simple moving average is $180.59.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, equities analysts forecast that GoDaddy Inc. will post 6.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GDDY. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. UBS Group raised their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Citigroup raised their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at $16,758,197.66. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,482 shares of company stock valued at $4,709,650. Company insiders own 0.61% of the company’s stock.

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.