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

Cumberland Partners Ltd increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the technology company’s stock after purchasing an additional 2,000 shares during the period. Cumberland Partners Ltd’s holdings in GoDaddy were worth $1,881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the third quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy in the second quarter valued at $28,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $30,000. ORG Partners LLC bought a new position in shares of GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC acquired a new position in GoDaddy in the second quarter worth $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,344 shares of company stock worth $4,529,897 over the last three months. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of research reports. Royal Bank of Canada raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler increased their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Benchmark lifted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Performance

GoDaddy stock traded up $2.63 during trading hours on Tuesday, hitting $185.76. The company had a trading volume of 102,562 shares, compared to its average volume of 1,455,535. The firm has a 50-day moving average of $159.96 and a 200 day moving average of $149.24. The firm has a market cap of $26.08 billion, a PE ratio of 14.15 and a beta of 1.11. GoDaddy Inc. has a one year low of $87.16 and a one year high of $186.00. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.