GoDaddy (NYSE:GDDY) Sets New 1-Year High at $138.12

GoDaddy Inc. (NYSE:GDDY) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $138.12 and last traded at $138.10, with a volume of 59790 shares. The stock had previously closed at $137.96.

Analysts Set New Price Targets

A number of brokerages have commented on GDDY. UBS Group raised their price target on shares of GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Raymond James initiated coverage on shares of GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a report on Wednesday, May 1st. Evercore ISI raised their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $142.73.

GoDaddy Trading Up 0.3 %

The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 11.57 and a beta of 1.09. The business’s fifty day moving average is $124.98 and its two-hundred day moving average is $111.88.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of GoDaddy stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the sale, the chief financial officer now owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 4,058 shares of GoDaddy stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the sale, the chief financial officer now owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,292 shares of company stock valued at $14,567,860. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fiera Capital Corp boosted its position in shares of GoDaddy by 1.3% during the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after purchasing an additional 10,312 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of GoDaddy during the fourth quarter worth $4,204,000. International Assets Investment Management LLC bought a new position in shares of GoDaddy during the fourth quarter worth $1,972,000. SG Americas Securities LLC boosted its position in shares of GoDaddy by 644.6% during the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after purchasing an additional 129,547 shares in the last quarter. Finally, Horrell Capital Management Inc. lifted its position in GoDaddy by 41.7% in the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock valued at $7,219,000 after acquiring an additional 20,000 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

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.