CIBC Asset Management Inc Has $3.31 Million Stake in GoDaddy Inc. (NYSE:GDDY)

CIBC Asset Management Inc boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,113 shares of the technology company’s stock after buying an additional 1,589 shares during the quarter. CIBC Asset Management Inc’s holdings in GoDaddy were worth $3,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares during the period. Prime Capital Investment Advisors LLC increased its position in shares of GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after buying an additional 73 shares during the period. Whittier Trust Co. raised its stake in GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after buying an additional 74 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after buying an additional 99 shares during the period. Finally, Equitable Trust Co. boosted its position in GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 107 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

GDDY opened at $185.11 on Tuesday. The firm’s fifty day moving average price is $162.76 and its two-hundred day moving average price is $151.41. The company has a market capitalization of $25.99 billion, a price-to-earnings ratio of 14.31 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1 year low of $91.86 and a 1 year high of $190.21.

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

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,844 shares of company stock valued at $4,619,397 in the last ninety days. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GDDY. Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Benchmark lifted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Five 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. Based on data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $171.38.

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.