M&T Bank Corp Raises Stake in GoDaddy Inc. (NYSE:GDDY)

M&T Bank Corp increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,539 shares of the technology company’s stock after buying an additional 145 shares during the period. M&T Bank Corp’s holdings in GoDaddy were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares during the period. Prime Capital Investment Advisors LLC grew its position in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. grew its position in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC raised its stake in shares of GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after buying an additional 99 shares during the last quarter. Finally, Equitable Trust Co. lifted its holdings in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after buying an additional 107 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Phontip Palitwanon sold 770 shares of GoDaddy stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,503 shares of company stock valued at $4,102,853 in the last three months. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird lifted their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price 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 raised their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group upped their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.57.

GoDaddy Stock Performance

NYSE:GDDY opened at $206.78 on Friday. GoDaddy Inc. has a twelve month low of $99.90 and a twelve month high of $210.30. The company has a market cap of $29.03 billion, a P/E ratio of 15.98 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company’s 50-day moving average price is $180.63 and its 200-day moving average price is $160.44.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $0.89 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

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.