GoDaddy Inc. (NYSE:GDDY) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its stake in GoDaddy Inc. (NYSE:GDDY) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,205 shares of the technology company’s stock after buying an additional 3,080 shares during the quarter. Cibc World Markets Corp’s holdings in GoDaddy were worth $4,383,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GDDY. Natixis Advisors LLC lifted its position in GoDaddy by 42.8% in the third quarter. Natixis Advisors LLC now owns 30,409 shares of the technology company’s stock valued at $4,768,000 after buying an additional 9,115 shares during the last quarter. Swiss National Bank lifted its position in GoDaddy by 4.4% in the third quarter. Swiss National Bank now owns 418,300 shares of the technology company’s stock valued at $65,581,000 after buying an additional 17,500 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of GoDaddy during the third quarter worth about $1,760,000. Prospera Financial Services Inc acquired a new stake in shares of GoDaddy during the third quarter worth about $807,000. Finally, Banque Cantonale Vaudoise lifted its position in shares of GoDaddy by 90.1% during the third quarter. Banque Cantonale Vaudoise now owns 18,677 shares of the technology company’s stock worth $2,928,000 after purchasing an additional 8,853 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $181.54 on Thursday. The firm has a market capitalization of $25.66 billion, a P/E ratio of 28.15 and a beta of 1.25. GoDaddy Inc. has a 52 week low of $118.39 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’s 50 day moving average is $191.94 and its two-hundred day moving average is $182.90.

GoDaddy (NYSE:GDDY) last announced 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 company 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%. Research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on GDDY shares. UBS Group increased their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Piper Sandler increased their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Barclays increased their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now directly owns 257,949 shares in the company, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the transaction, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,816,029 over the last three months. Insiders own 0.61% of the company’s stock.

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.