M&T Bank Corp Lowers Holdings in GoDaddy Inc. (NYSE:GDDY)

M&T Bank Corp lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,336 shares of the technology company’s stock after selling 203 shares during the period. M&T Bank Corp’s holdings in GoDaddy were worth $1,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted 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 period. CWA Asset Management Group LLC raised its position in shares of GoDaddy by 29.2% in 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 in the last quarter. Crossmark Global Holdings Inc. boosted its position 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 in the last quarter. Dai ichi Life Insurance Company Ltd boosted its position in GoDaddy by 39.6% during 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. Finally, Fiduciary Alliance LLC purchased a new position in GoDaddy in the fourth quarter valued at about $1,045,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $175.52 on Monday. GoDaddy Inc. has a 52 week low of $113.01 and a 52 week high of $216.00. The business’s 50 day moving average price is $195.50 and its 200 day moving average price is $182.38. 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 cap of $24.81 billion, a P/E ratio of 27.21 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,480 shares of company stock valued at $3,849,169. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on GDDY shares. B. Riley increased their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Piper Sandler increased their target price 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 initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. JPMorgan Chase & Co. upped their price target on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird raised their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Seven investment 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. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

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.