Cumberland Partners Ltd Has $2.27 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Cumberland Partners Ltd reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,500 shares of the technology company’s stock after selling 500 shares during the period. Cumberland Partners Ltd’s holdings in GoDaddy were worth $2,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Geode Capital Management LLC increased its position in GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after acquiring an additional 84,550 shares during the period. WCM Investment Management LLC raised its stake in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. FMR LLC boosted its holdings in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of GoDaddy by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after purchasing an additional 203,909 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. Piper Sandler lifted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. B. Riley increased their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Benchmark boosted their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group increased their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Trading Down 2.6 %

Shares of GDDY stock opened at $176.45 on Thursday. GoDaddy Inc. has a twelve month low of $108.02 and a twelve month high of $216.00. The stock’s fifty day simple moving average is $202.67 and its 200 day simple moving average is $180.77. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $24.77 billion, a P/E ratio of 27.36 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.69 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $98,885.00. Following the completion of the transaction, the director now owns 23,621 shares in the company, valued at approximately $4,671,525.17. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the transaction, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,482 shares of company stock worth $4,903,930. 0.61% of the stock is currently owned by company insiders.

GoDaddy Company 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.