GoDaddy (NYSE:GDDY) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of GoDaddy (NYSE:GDDY) in a report issued on Monday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $198.00 price target on the technology company’s stock.

Several other analysts have also recently commented on GDDY. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Piper Sandler upped their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Six 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.07.

GoDaddy Trading Down 0.4 %

GoDaddy stock opened at $209.64 on Monday. GoDaddy has a 1 year low of $107.92 and a 1 year high of $216.00. The firm’s 50 day moving average price is $203.64 and its 200-day moving average price is $177.05. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $29.43 billion, a P/E ratio of 16.20 and a beta of 1.15.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,983 shares of company stock worth $4,983,133. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of GoDaddy in the 3rd quarter worth $1,132,000. CWA Asset Management Group LLC grew its position in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after buying an additional 3,631 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of 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 buying an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd raised its holdings in shares of GoDaddy by 39.6% in 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 acquiring an additional 17,021 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

About GoDaddy

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.