GoDaddy Inc. $GDDY Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 62.1% during the fourth quarter, Holdings Channel reports. The firm owned 32,607 shares of the technology company’s stock after acquiring an additional 12,496 shares during the quarter. CIBC Asset Management Inc’s holdings in GoDaddy were worth $4,046,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GoDaddy during the fourth quarter worth $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth $25,000. Activest Wealth Management raised its holdings in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Harbour Investments Inc. grew its position in shares of GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after acquiring an additional 170 shares during the last quarter. Finally, Entrust Financial LLC bought a new position in shares of GoDaddy during the fourth quarter worth about $35,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

NYSE:GDDY opened at $84.59 on Friday. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $183.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The company has a 50-day moving average of $85.70 and a 200-day moving average of $99.60. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent analyst reports. Barclays decreased their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Benchmark decreased their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. UBS Group initiated coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 target price for the company. Evercore set a $95.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company increased their target price on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.57.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the sale, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the sale, the director directly owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 14,561 shares of company stock worth $1,308,104. Company insiders own 0.93% of the company’s stock.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.