Cumberland Partners Ltd Has $1.88 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Cumberland Partners Ltd lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 20.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,000 shares of the technology company’s stock after buying an additional 2,000 shares during the period. Cumberland Partners Ltd’s holdings in GoDaddy were worth $1,881,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in shares of GoDaddy by 13.1% in the 1st quarter. Sei Investments Co. now owns 176,053 shares of the technology company’s stock worth $20,894,000 after buying an additional 20,347 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of GoDaddy during the 1st quarter worth approximately $296,000. Motley Fool Asset Management LLC raised its holdings in shares of GoDaddy by 13.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,009 shares of the technology company’s stock worth $357,000 after purchasing an additional 359 shares during the period. Entropy Technologies LP purchased a new position in GoDaddy in the first quarter valued at approximately $1,175,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in GoDaddy by 20.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,554 shares of the technology company’s stock valued at $8,967,000 after purchasing an additional 12,651 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now owns 345,956 shares in the company, valued at $58,047,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the sale, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares in the company, valued at $58,047,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,344 shares of company stock valued at $4,529,897. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Up 1.4 %

Shares of GDDY traded up $2.63 on Tuesday, reaching $185.76. The stock had a trading volume of 102,562 shares, compared to its average volume of 1,455,535. The company has a 50-day simple moving average of $159.96 and a 200-day simple moving average of $149.24. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $26.08 billion, a price-to-earnings ratio of 14.15 and a beta of 1.11. GoDaddy Inc. has a 12-month low of $87.16 and a 12-month high of $186.00.

GoDaddy (NYSE:GDDY) last released its 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 period in the prior year, the firm earned $0.89 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent research reports. B. Riley upped their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays upped their target price 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 shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday. Royal Bank of Canada upped their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy 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.