Thrivent Financial for Lutherans Lowers Holdings in GoDaddy Inc. $GDDY

Thrivent Financial for Lutherans cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 45.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of GoDaddy by 20.9% in 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 purchasing an additional 17,200 shares in the last quarter. Nomura Asset Management Co. Ltd. increased 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 valued at $15,602,000 after buying an additional 10,631 shares during the period. GDS Wealth Management raised its stake in GoDaddy by 16.3% in the second quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after buying an additional 8,388 shares in the last quarter. Quantbot Technologies LP purchased a new stake in GoDaddy during the second quarter worth $15,659,000. Finally, Neo Ivy Capital Management purchased a new stake in GoDaddy during the second quarter worth $470,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GDDY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of GoDaddy in a report on Friday, October 31st. Citigroup reduced their target price on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a report on Friday, October 31st. UBS Group lowered their price target on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, Morgan Stanley set a $159.00 target price on shares of GoDaddy in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.14.

GoDaddy Stock Performance

GDDY opened at $126.63 on Wednesday. The company has a market cap of $17.11 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. 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’s 50-day moving average price is $128.78 and its 200-day moving average price is $146.44. GoDaddy Inc. has a 52-week low of $121.94 and a 52-week high of $216.00.

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

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the transaction, the director directly owned 19,957 shares in the company, valued at $2,656,476.27. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,615 shares of company stock valued at $1,877,942 in the last quarter. Insiders own 0.70% of the company’s stock.

GoDaddy 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.