Convergence Investment Partners LLC Increases Stake in GoDaddy Inc. $GDDY

Convergence Investment Partners LLC increased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,131 shares of the technology company’s stock after buying an additional 923 shares during the period. Convergence Investment Partners LLC’s holdings in GoDaddy were worth $2,364,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GDDY. HighPoint Advisor Group LLC grew its stake in GoDaddy by 15.9% in the first quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company’s stock valued at $402,000 after purchasing an additional 293 shares during the last quarter. DAVENPORT & Co LLC grew its stake in GoDaddy by 7.7% in the first quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company’s stock valued at $354,000 after purchasing an additional 141 shares during the last quarter. Optimist Retirement Group LLC grew its stake in GoDaddy by 5.8% in the first quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company’s stock valued at $274,000 after purchasing an additional 84 shares during the last quarter. Voya Investment Management LLC grew its stake in GoDaddy by 102.8% in the first quarter. Voya Investment Management LLC now owns 805,112 shares of the technology company’s stock valued at $145,033,000 after purchasing an additional 408,178 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in GoDaddy by 13.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company’s stock valued at $1,060,000 after purchasing an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $145.71, for a total transaction of $145,710.00. Following the completion of the sale, the chief operating officer owned 251,949 shares of the company’s stock, valued at $36,711,488.79. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 3,326 shares of GoDaddy stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total value of $472,990.46. Following the sale, the chief financial officer directly owned 70,133 shares of the company’s stock, valued at $9,973,613.93. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,203 shares of company stock valued at $4,031,238. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler set a $182.00 target price on GoDaddy and gave the company an “overweight” rating in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of GoDaddy in a research note on Wednesday, October 8th. Wells Fargo & Company lowered their price target on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Barclays lowered their price target on GoDaddy from $235.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Finally, UBS Group lowered their price target on GoDaddy from $215.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.00.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $130.92 on Monday. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. GoDaddy Inc. has a fifty-two week low of $127.65 and a fifty-two week high of $216.00. The company has a market cap of $18.13 billion, a PE ratio of 23.38, a P/E/G ratio of 1.41 and a beta of 0.98. The business has a 50-day simple moving average of $140.63 and a two-hundred day simple moving average of $162.17.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

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.