CIBC Private Wealth Group LLC Purchases 175 Shares of GoDaddy Inc. (NYSE:GDDY)

CIBC Private Wealth Group LLC raised its position in GoDaddy Inc. (NYSE:GDDY) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,468 shares of the technology company’s stock after buying an additional 175 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in GoDaddy were worth $289,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in GoDaddy during the fourth quarter valued at about $25,554,000. CWA Asset Management Group LLC lifted its stake in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after buying an additional 3,631 shares in the last quarter. Fiduciary Alliance LLC bought a new position in GoDaddy in the 4th quarter worth approximately $1,045,000. Mount Yale Investment Advisors LLC grew its stake in GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after buying an additional 3,783 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of GoDaddy by 68.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock worth $243,000 after acquiring an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $89,925.00. Following the sale, the director now owns 21,621 shares in the company, valued at $3,888,536.85. The trade was a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,643,589 in the last quarter. Insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

GDDY opened at $164.34 on Friday. 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’s 50 day simple moving average is $186.96 and its 200 day simple moving average is $185.04. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of 25.48 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) 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 firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GDDY. B. Riley upped their price target on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup boosted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley increased their price objective on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Raymond James boosted their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently 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.