GoDaddy (NYSE:GDDY) Hits New 1-Year High at $143.37

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

Analysts Set New Price Targets

Several equities analysts have recently commented on GDDY shares. B. Riley upped their price target on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. UBS Group boosted their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Citigroup increased their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Barclays boosted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Raymond James started coverage on shares of GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.92.

GoDaddy Stock Performance

The firm has a market capitalization of $20.50 billion, a price-to-earnings ratio of 11.93 and a beta of 1.14. The firm has a 50 day moving average price of $135.92 and a 200-day moving average price of $121.04. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. As a group, sell-side analysts expect that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the transaction, the chief operating officer now owns 200,632 shares in the company, valued at $24,597,483.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, 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. In the last 90 days, insiders have sold 50,071 shares of company stock valued at $6,875,606. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Fiera Capital Corp boosted its position in 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 acquiring an additional 10,312 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in GoDaddy during the fourth quarter valued at $4,204,000. International Assets Investment Management LLC bought a new stake in shares of GoDaddy in the 4th quarter worth approximately $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 buying an additional 129,547 shares during the period. Finally, Horrell Capital Management Inc. increased its stake in GoDaddy by 41.7% during the 4th quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock valued at $7,219,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 90.28% 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.