GoDaddy Inc. $GDDY Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 69.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,794 shares of the technology company’s stock after purchasing an additional 7,268 shares during the period. Convergence Investment Partners LLC’s holdings in GoDaddy were worth $2,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its position in GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after purchasing an additional 86 shares during the last quarter. Clearstead Advisors LLC increased its position in GoDaddy by 0.9% during the third quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock worth $1,686,000 after purchasing an additional 104 shares during the last quarter. Main Street Financial Solutions LLC increased its position in GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 119 shares during the last quarter. Martin Capital Advisors LLP increased its position in GoDaddy by 1.5% during the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock worth $1,127,000 after purchasing an additional 130 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in GoDaddy by 18.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company’s stock worth $103,000 after purchasing an additional 132 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. UBS Group assumed coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company. Royal Bank Of Canada dropped their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.57.

GoDaddy Trading Up 2.7%

NYSE GDDY opened at $87.27 on Friday. The firm has a 50 day simple moving average of $84.77 and a 200-day simple moving average of $104.10. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. GoDaddy Inc. has a one year low of $73.06 and a one year high of $190.50. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.76 and a beta of 0.92.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business posted $1.51 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, Director Leah Sweet sold 650 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the completion of the sale, the director owned 11,414 shares in the company, valued at $991,420.04. This represents a 5.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares of the company’s stock, valued at approximately $47,175,378.80. This trade represents a 6.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,918 shares of company stock worth $5,500,469 in the last 90 days. Company insiders own 0.93% of the company’s stock.

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.