Sentry Investment Management LLC Sells 1,426 Shares of GoDaddy Inc. (NYSE:GDDY)

Sentry Investment Management LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 35.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,613 shares of the technology company’s stock after selling 1,426 shares during the period. Sentry Investment Management LLC’s holdings in GoDaddy were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the 3rd quarter worth $27,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the fourth quarter worth about $43,000. Huntington National Bank raised its stake in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares during the period. Finally, Friedenthal Financial purchased a new position in GoDaddy in the 4th quarter worth approximately $49,000. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GDDY shares. Wells Fargo & Company began coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective on the stock. Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. UBS Group boosted their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. B. Riley lifted their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Stock Performance

NYSE GDDY opened at $174.13 on Tuesday. The business’s 50 day moving average price is $200.66 and its 200-day moving average price is $181.45. GoDaddy Inc. has a fifty-two week low of $108.38 and a fifty-two week high of $216.00. The company has a market cap of $24.45 billion, a P/E ratio of 27.00 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data 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 firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, 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 transaction of $194,280.00. Following the completion of the sale, the chief operating officer now directly owns 182,632 shares in the company, valued at approximately $35,481,744.96. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the transaction, the chief executive officer now owns 342,956 shares in the company, valued at approximately $67,826,408.12. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,482 shares of company stock worth $4,903,930. Insiders own 0.61% of the company’s stock.

GoDaddy 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.