Sentry Investment Management LLC Trims Position in GoDaddy Inc. (NYSE:GDDY)

Sentry Investment Management LLC decreased its holdings in GoDaddy Inc. (NYSE:GDDY) by 35.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,613 shares of the technology company’s stock after selling 1,426 shares during the quarter. Sentry Investment Management LLC’s holdings in GoDaddy were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. BankPlus Trust Department purchased a new stake in shares of GoDaddy in the 4th quarter worth about $392,000. Rothschild Investment LLC raised its stake in GoDaddy by 85.8% in the fourth quarter. Rothschild Investment LLC now owns 11,418 shares of the technology company’s stock worth $2,254,000 after buying an additional 5,274 shares in the last quarter. World Equity Group Inc. purchased a new stake in GoDaddy in the fourth quarter worth about $220,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in GoDaddy by 6.5% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,644 shares of the technology company’s stock valued at $13,351,000 after acquiring an additional 4,100 shares in the last quarter. Finally, Howard Capital Management Inc. purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $217,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. Barclays boosted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Citigroup increased their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. 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, February 6th. Finally, Piper Sandler upped their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $98,885.00. Following the transaction, the director now owns 23,621 shares in the company, valued at $4,671,525.17. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,482 shares of company stock worth $4,903,930 over the last quarter. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.2 %

GDDY stock opened at $174.13 on Tuesday. The stock has a market capitalization of $24.45 billion, a P/E ratio of 27.00 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $108.38 and a 1-year high of $216.00. The business has a fifty day moving average price of $200.66 and a 200-day moving average price of $181.45.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy Company Profile

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.