Thrivent Financial for Lutherans Has $4.94 Million Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Thrivent Financial for Lutherans increased its GoDaddy stake by 212.2% in the fourth quarter, ending with 39,702 shares worth about $4.94 million.
• GoDaddy reported stronger-than-expected quarterly results, posting EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion, up 6.1% year over year.
• Despite the earnings beat, the stock was down 0.7% in Friday trading, and analysts currently rate it a Moderate Buy with an average price target of $120.57.

Thrivent Financial for Lutherans lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 212.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,702 shares of the technology company's stock after buying an additional 26,987 shares during the quarter. Thrivent Financial for Lutherans' holdings in GoDaddy were worth $4,935,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Ameriprise Financial Inc. increased its holdings in shares of GoDaddy by 47.0% during the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock worth $483,360,000 after purchasing an additional 1,128,646 shares during the period. Two Sigma Investments LP boosted its stake in shares of GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock valued at $223,183,000 after buying an additional 814,360 shares during the period. Victory Capital Management Inc. boosted its stake in shares of GoDaddy by 318.6% in the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company's stock valued at $100,632,000 after buying an additional 559,757 shares during the period. Swedbank AB boosted its stake in shares of GoDaddy by 433.9% in the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company's stock valued at $80,125,000 after buying an additional 524,811 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of GoDaddy by 85.2% in the third quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company's stock valued at $122,359,000 after buying an additional 411,349 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Trading Down 0.7%

GDDY opened at $91.60 on Friday. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $184.95. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.83 and a beta of 0.92. The company's 50 day moving average price is $84.70 and its two-hundred day moving average price is $102.83.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm posted $1.51 EPS. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Insider Activity

In other news, Director Leah Sweet sold 650 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the sale, the director directly owned 11,414 shares of the company's stock, valued at approximately $991,420.04. This represents a 5.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer directly owned 530,120 shares in the company, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,946 shares of company stock valued at $5,502,965. Company insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Benchmark dropped their target price on shares of GoDaddy from $195.00 to $185.00 and set a "buy" rating for the company in a research report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on shares of GoDaddy from $167.00 to $154.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Jefferies Financial Group dropped their target price on shares of GoDaddy from $140.00 to $100.00 and set a "hold" rating for the company in a research report on Monday, February 23rd. UBS Group assumed coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 target price for the company. Finally, Cantor Fitzgerald dropped their target price on shares of GoDaddy from $130.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $120.57.

GoDaddy Company 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.

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