GoDaddy Inc. $GDDY Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 45.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,359 shares of the technology company’s stock after selling 9,591 shares during the period. Thrivent Financial for Lutherans’ holdings in GoDaddy were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of GoDaddy by 20.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock valued at $17,888,000 after buying an additional 17,200 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after acquiring an additional 10,631 shares during the period. GDS Wealth Management raised its position in GoDaddy by 16.3% during the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock valued at $10,793,000 after acquiring an additional 8,388 shares in the last quarter. Quantbot Technologies LP acquired a new position in GoDaddy in the second quarter valued at approximately $15,659,000. Finally, Neo Ivy Capital Management purchased a new stake in GoDaddy in the 2nd quarter worth approximately $470,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GDDY shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 31st. UBS Group decreased their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Morgan Stanley set a $159.00 target price on GoDaddy in a research report on Friday, October 31st. Finally, Evercore ISI reduced their price target on GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.14.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the sale, the chief executive officer directly owned 399,133 shares in the company, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the transaction, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 14,615 shares of company stock valued at $1,877,942. Insiders own 0.70% of the company’s stock.

GoDaddy Stock Up 0.4%

GDDY stock opened at $126.63 on Wednesday. GoDaddy Inc. has a 52 week low of $121.94 and a 52 week high of $216.00. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a 50-day simple moving average of $128.78 and a 200-day simple moving average of $146.44. The stock has a market capitalization of $17.11 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.41 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $1.32 EPS. GoDaddy’s revenue was up 10.3% compared to the same quarter last year. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy Company 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.