CIBC Private Wealth Group LLC Grows Position in GoDaddy Inc. (NYSE:GDDY)

CIBC Private Wealth Group LLC increased its position in GoDaddy Inc. (NYSE:GDDY) by 13.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,468 shares of the technology company’s stock after purchasing an additional 175 shares during the period. CIBC Private Wealth Group LLC’s holdings in GoDaddy were worth $289,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC grew its position in shares of GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after buying an additional 3,356,678 shares during the period. Norges Bank bought a new stake in GoDaddy during the fourth quarter worth about $356,038,000. Congress Asset Management Co. purchased a new stake in GoDaddy in the fourth quarter worth about $111,923,000. Amundi increased its stake in shares of GoDaddy by 84.4% during the fourth quarter. Amundi now owns 931,874 shares of the technology company’s stock valued at $183,710,000 after purchasing an additional 426,501 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock valued at $70,750,000 after purchasing an additional 349,358 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY opened at $164.34 on Friday. The company has a 50-day moving average price of $186.96 and a 200-day moving average price of $185.04. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week 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 firm has a market capitalization of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25.

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 return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock worth $3,643,589. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GDDY. JPMorgan Chase & Co. raised their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. UBS Group lifted their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Barclays increased their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Citigroup lifted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Benchmark increased 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. Seven 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’s stock. According to MarketBeat, the stock presently 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.