CIBC Asset Management Inc Acquires 1,589 Shares of GoDaddy Inc. (NYSE:GDDY)

CIBC Asset Management Inc grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,113 shares of the technology company’s stock after purchasing an additional 1,589 shares during the period. CIBC Asset Management Inc’s holdings in GoDaddy were worth $3,310,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GDDY. Price T Rowe Associates Inc. MD raised its holdings in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the period. Kodai Capital Management LP purchased a new stake in GoDaddy during the 1st quarter worth about $75,855,000. Federated Hermes Inc. boosted its stake in GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Wedge Capital Management L L P NC grew its holdings in GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after buying an additional 384,386 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after buying an additional 379,228 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GDDY stock opened at $185.11 on Tuesday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $25.99 billion, a P/E ratio of 14.31 and a beta of 1.11. The firm’s fifty day moving average is $162.76 and its 200 day moving average is $151.41. GoDaddy Inc. has a 52 week low of $91.86 and a 52 week high of $190.21.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of analyst reports. Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird lifted their price objective on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

Insider Buying and Selling at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is currently owned by insiders.

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.