GoDaddy (NYSE:GDDY) Coverage Initiated by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company initiated coverage on shares of GoDaddy (NYSE:GDDY) in a research note issued on Monday,Benzinga reports. The firm set an “equal weight” rating and a $198.00 price target on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 6.75% from the stock’s previous close.

GDDY has been the subject of a number of other reports. Raymond James increased their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $198.07.

GoDaddy Trading Down 0.6 %

GDDY opened at $212.32 on Monday. GoDaddy has a one year low of $106.42 and a one year high of $216.00. 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 business has a 50 day simple moving average of $202.89 and a two-hundred day simple moving average of $175.88. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 16.41 and a beta of 1.15.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of GoDaddy stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,483 shares of company stock valued at $4,256,183 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy during the 3rd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at $30,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy during the 4th quarter valued at $43,000. Finally, Huntington National Bank lifted its stake in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 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.