Convergence Financial LLC Buys Shares of 1,394 GoDaddy Inc. (NYSE:GDDY)

Convergence Financial LLC bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,394 shares of the technology company’s stock, valued at approximately $275,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the third quarter worth $27,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy in the fourth quarter worth $43,000. Huntington National Bank lifted its stake in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of GoDaddy in the fourth quarter worth $49,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Up 0.2 %

GoDaddy stock opened at $176.99 on Thursday. The stock has a market capitalization of $24.85 billion, a PE ratio of 27.44 and a beta of 1.15. GoDaddy Inc. has a twelve month low of $108.38 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company has a 50 day moving average of $200.04 and a 200-day moving average of $181.59.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $1.18 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the completion of the transaction, the chief operating officer now owns 182,632 shares in the company, valued at approximately $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 2,678 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $526,601.92. Following the transaction, the chief financial officer now owns 89,800 shares of the company’s stock, valued at $17,658,272. The trade was a 2.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,482 shares of company stock worth $4,903,930. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Jefferies Financial Group boosted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark boosted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Barclays upped their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Morgan Stanley boosted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Company Profile

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.