Thrivent Financial for Lutherans Decreases Stake in GoDaddy Inc. (NYSE:GDDY)

Thrivent Financial for Lutherans decreased its position in GoDaddy Inc. (NYSE:GDDY) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 8,834 shares of the technology company’s stock after selling 319 shares during the quarter. Thrivent Financial for Lutherans’ holdings in GoDaddy were worth $1,699,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GDDY. WCM Investment Management LLC raised its position in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. acquired a new stake in GoDaddy during the 4th quarter worth $111,923,000. Amundi lifted its position in GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company’s stock valued at $183,710,000 after acquiring an additional 426,501 shares during the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after purchasing an additional 349,358 shares during the last quarter. Finally, FMR LLC increased its position in shares of 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 purchasing an additional 274,014 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of research analyst reports. UBS Group upped their target price on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Wells Fargo & Company began coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Piper Sandler raised their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley upped their target price on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, B. Riley boosted their price target on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Performance

NYSE GDDY opened at $178.89 on Friday. The business has a 50 day moving average price of $189.80 and a 200 day moving average price of $184.18. The company has a market capitalization of $25.29 billion, a P/E ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a 1-year low of $118.39 and a 1-year high of $216.00. 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 (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the completion of the transaction, the chief executive officer now owns 333,153 shares of the company’s stock, valued at $66,300,778.53. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares of the company’s stock, valued at $4,601,310.21. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 in the last ninety days. 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.