GoDaddy (NYSE:GDDY) Now Covered by Analysts at Wells Fargo & Company

Research analysts at Wells Fargo & Company started coverage on shares of GoDaddy (NYSE:GDDY) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $198.00 price target on the technology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 6.00% from the stock’s current price.

GDDY has been the topic of a number of other reports. B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup increased their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. 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 stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.07.

GoDaddy Stock Performance

GDDY stock opened at $210.65 on Monday. The stock’s 50 day simple moving average is $203.41 and its 200 day simple moving average is $176.82. GoDaddy has a 12-month low of $107.47 and a 12-month high of $216.00. The firm has a market cap of $29.57 billion, a P/E ratio of 16.28 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total value of $200,570.00. Following the sale, the chief operating officer now directly owns 183,632 shares in the company, valued at approximately $36,831,070.24. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,483 shares of company stock worth $4,256,183 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its holdings in shares of GoDaddy by 88.6% in the 2nd quarter. Creative Planning now owns 10,019 shares of the technology company’s stock worth $1,400,000 after acquiring an additional 4,707 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of GoDaddy by 214.2% in the 2nd quarter. NewEdge Advisors LLC now owns 9,105 shares of the technology company’s stock valued at $1,272,000 after purchasing an additional 6,207 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in GoDaddy in the 2nd quarter worth about $245,000. Truist Financial Corp raised its holdings in GoDaddy by 1.1% during the 2nd quarter. Truist Financial Corp now owns 35,534 shares of the technology company’s stock worth $4,964,000 after buying an additional 393 shares during the period. Finally, Cetera Investment Advisers lifted its stake in GoDaddy by 10.9% during the second quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after buying an additional 1,764 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

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.