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

Research analysts at Wells Fargo & Company began coverage on shares of GoDaddy (NYSE:GDDY) in a report issued on Monday, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $198.00 price target on the technology company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 6.00% from the stock’s previous close.

Several other research analysts also recently weighed in on GDDY. Citigroup boosted 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. JPMorgan Chase & Co. upped their target price on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Finally, Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $198.07.

GoDaddy Stock Performance

NYSE GDDY opened at $210.65 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market cap of $29.57 billion, a price-to-earnings ratio of 16.28 and a beta of 1.15. GoDaddy has a fifty-two week low of $107.47 and a fifty-two week high of $216.00. The business has a fifty day moving average of $203.41 and a 200-day moving average of $176.82.

Insider Buying and Selling at GoDaddy

In other GoDaddy 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 completion of the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,483 shares of company stock valued at $4,256,183 over the last three months. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GDDY. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy in the third quarter worth $30,000. Anchor Investment Management LLC acquired a new stake in GoDaddy in the third quarter valued at $31,000. Versant Capital Management Inc bought a new position in GoDaddy during the 4th quarter valued at $43,000. Finally, Huntington National Bank grew its holdings in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares in the last quarter. 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.