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

M&T Bank Corp decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2.1% during the fourth quarter, according to the company in its most recent filing 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 large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after buying an additional 6,424 shares in the last quarter. Equitable Trust Co. raised its holdings in GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 107 shares during the period. CWA Asset Management Group LLC bought a new stake in GoDaddy during the third quarter valued at about $1,950,000. Verdence Capital Advisors LLC lifted its position in shares of GoDaddy by 21.2% in the third quarter. Verdence Capital Advisors LLC now owns 13,421 shares of the technology company’s stock valued at $2,104,000 after acquiring an additional 2,349 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GDDY shares. Piper Sandler boosted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Barclays increased their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Seven 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 has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $175.52 on Monday. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 27.21 and a beta of 1.25. 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 stock has a 50 day moving average price of $195.50 and a 200-day moving average price of $182.38. GoDaddy Inc. has a one year low of $113.01 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Equities analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the sale, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the sale, the director now directly owns 22,121 shares of the company’s stock, valued at $3,996,379.86. This represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,480 shares of company stock valued at $3,849,169. Company insiders own 0.61% of the company’s stock.

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.