GoDaddy (NYSE:GDDY) Sets New 52-Week High at $143.37

GoDaddy Inc. (NYSE:GDDY) reached a new 52-week high on Tuesday . The stock traded as high as $143.37 and last traded at $142.48, with a volume of 616533 shares changing hands. The stock had previously closed at $141.50.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent research reports. UBS Group raised their price objective on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. William Blair reiterated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Evercore ISI raised their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Barclays upped their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.92.

GoDaddy Price Performance

The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The firm’s 50-day moving average is $135.92 and its two-hundred day moving average is $121.04. The company has a market cap of $20.50 billion, a P/E ratio of 11.93 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Analysts anticipate that GoDaddy Inc. will post 4.82 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at approximately $3,129,947.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. Insiders have sold a total of 50,071 shares of company stock worth $6,875,606 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of GDDY. Massmutual Trust Co. FSB ADV lifted its position in shares of GoDaddy by 28.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 681 shares of the technology company’s stock worth $95,000 after purchasing an additional 152 shares during the last quarter. GAMMA Investing LLC lifted its holdings in GoDaddy by 315.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,093 shares of the technology company’s stock valued at $153,000 after buying an additional 830 shares in the last quarter. American Trust purchased a new stake in GoDaddy in the 1st quarter valued at about $267,000. DekaBank Deutsche Girozentrale boosted its position in GoDaddy by 96.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 35,654 shares of the technology company’s stock valued at $4,275,000 after buying an additional 17,490 shares during the period. Finally, Cetera Advisors LLC grew its stake in GoDaddy by 16.0% in the 1st quarter. Cetera Advisors LLC now owns 7,755 shares of the technology company’s stock worth $920,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

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.