Cibc World Markets Corp Raises Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Cibc World Markets Corp raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,205 shares of the technology company's stock after acquiring an additional 3,080 shares during the quarter. Cibc World Markets Corp's holdings in GoDaddy were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Anchor Investment Management LLC purchased a new position in GoDaddy during the third quarter valued at $31,000. Versant Capital Management Inc bought a new position in shares of GoDaddy in the fourth quarter worth about $43,000. Rakuten Securities Inc. lifted its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after buying an additional 165 shares in the last quarter. Friedenthal Financial bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $49,000. Finally, OFI Invest Asset Management purchased a new stake in GoDaddy in the 4th quarter worth approximately $52,000. Institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

Shares of NYSE GDDY traded up $3.32 during midday trading on Monday, reaching $183.65. 1,166,141 shares of the stock traded hands, compared to its average volume of 1,341,976. The company's 50 day moving average is $191.37 and its 200 day moving average is $183.32. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00. 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 has a market capitalization of $25.96 billion, a PE ratio of 28.47 and a beta of 1.25.

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GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the sale, the director now owns 22,121 shares of the company's stock, valued at approximately $3,996,379.86. This represents a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the sale, the chief operating officer now owns 257,949 shares of the company's stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,480 shares of company stock worth $3,816,029. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GDDY shares. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Morgan Stanley upped their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Raymond James boosted their price objective on GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, Benchmark increased their target price on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Seven investment 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. According to MarketBeat, the company currently has a consensus 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.