Cumberland Partners Ltd Sells 500 Shares of GoDaddy Inc. (NYSE:GDDY)

Cumberland Partners Ltd reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities & 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 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares during the last quarter. Highland Capital Management LLC acquired a new stake in shares of GoDaddy in the 3rd quarter valued at approximately $1,132,000. CWA Asset Management Group LLC boosted its stake in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after acquiring an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after purchasing an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its stake in GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

GDDY opened at $176.45 on Thursday. The business’s 50-day simple moving average is $202.67 and its 200 day simple moving average is $180.77. GoDaddy Inc. has a 52-week low of $108.02 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm has a market capitalization of $24.77 billion, a PE ratio of 27.36 and a beta of 1.15.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Piper Sandler boosted their target price on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. B. Riley increased their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Morgan Stanley lifted their price objective on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group increased their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given 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.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the sale, the director now owns 22,621 shares in the company, valued at approximately $4,698,381.70. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction 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 transaction, the chief executive officer now directly owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,482 shares of company stock worth $4,903,930 over the last quarter. 0.61% of the stock is currently owned by 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.