Cibc World Markets Corp Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

Cibc World Markets Corp boosted its position in GoDaddy Inc. (NYSE:GDDY) by 16.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,205 shares of the technology company’s stock after buying an additional 3,080 shares during the period. Cibc World Markets Corp’s holdings in GoDaddy were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. WCM Investment Management LLC lifted its holdings in GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after acquiring an additional 3,356,678 shares during the period. Congress Asset Management Co. acquired a new stake in GoDaddy in the fourth quarter valued at $111,923,000. Amundi lifted its holdings in GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company’s stock valued at $183,710,000 after acquiring an additional 426,501 shares during the period. AustralianSuper Pty Ltd lifted its holdings in GoDaddy by 3,836.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock valued at $70,750,000 after acquiring an additional 349,358 shares during the period. Finally, FMR LLC lifted its holdings in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after acquiring an additional 274,014 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Up 1.8 %

GDDY opened at $181.54 on Thursday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a market capitalization of $25.66 billion, a price-to-earnings ratio of 28.15 and a beta of 1.25. The business has a 50-day moving average of $191.94 and a two-hundred day moving average of $182.90. GoDaddy Inc. has a 12 month low of $118.39 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the sale, the director now owns 22,121 shares in the company, valued at approximately $3,996,379.86. The trade was a 2.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at $36,831,070.24. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 in the last 90 days. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler lifted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company initiated coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $213.20.

About GoDaddy

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.