Canandaigua National Bank & Trust Co. Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Canandaigua National Bank & Trust Co. bought a new stake in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,180 shares of the technology company’s stock, valued at approximately $233,000.

Other hedge funds have also made changes to their positions in the company. Fiera Capital Corp grew its stake in GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after purchasing an additional 13,206 shares in the last quarter. Candriam S.C.A. increased its holdings in GoDaddy by 25.0% in the second quarter. Candriam S.C.A. now owns 15,617 shares of the technology company’s stock worth $2,182,000 after buying an additional 3,121 shares during the last quarter. Quest Partners LLC raised its position in GoDaddy by 1,613.7% during the second quarter. Quest Partners LLC now owns 9,888 shares of the technology company’s stock valued at $1,381,000 after acquiring an additional 9,311 shares in the last quarter. Prudential PLC lifted its stake in GoDaddy by 348.5% in the second quarter. Prudential PLC now owns 8,978 shares of the technology company’s stock valued at $1,254,000 after acquiring an additional 6,976 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in shares of GoDaddy during the 2nd quarter worth $213,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the sale, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,003 shares of company stock valued at $4,626,523 over the last quarter. 0.61% of the stock is owned by company insiders.

GoDaddy Price Performance

Shares of GDDY stock opened at $195.58 on Wednesday. GoDaddy Inc. has a 12 month low of $100.43 and a 12 month high of $211.11. The company has a market capitalization of $27.46 billion, a P/E ratio of 15.11 and a beta of 1.15. The stock has a 50 day moving average of $193.67 and a two-hundred day moving average of $167.80. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on GDDY. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $187.71.

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.