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

Convergence Investment Partners LLC cut its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 institutional investors have also added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at $27,000. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter valued at $31,000. Versant Capital Management Inc bought a new stake in GoDaddy during the fourth quarter valued at $43,000. Huntington National Bank boosted its position in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after acquiring an additional 230 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of GoDaddy during the 4th quarter valued at about $49,000. 90.28% of the stock is currently owned by institutional investors.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares of the company's stock, valued at $16,776,543. This trade represents a 6.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, February 14th. The stock was sold at an average price of $194.28, for a total value of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares in the company, valued at $35,481,744.96. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,482 shares of company stock valued at $4,903,930 over the last ninety days. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Down 1.6 %

NYSE GDDY traded down $2.75 during trading hours on Friday, hitting $173.82. The company's stock had a trading volume of 1,477,403 shares, compared to its average volume of 1,434,149. GoDaddy Inc. has a 52 week low of $108.38 and a 52 week high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company's 50-day simple moving average is $201.36 and its two-hundred day simple moving average is $180.93. The company has a market capitalization of $24.40 billion, a PE ratio of 26.95 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last posted 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on GDDY shares. Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Barclays increased their price target on GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. B. Riley increased their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and a consensus target price of $213.20.

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.