GoDaddy (NYSE:GDDY) Hits New 12-Month High at $132.90

GoDaddy Inc. (NYSE:GDDY - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $132.90 and last traded at $132.30, with a volume of 140571 shares changing hands. The stock had previously closed at $131.47.

Analyst Ratings Changes

Several brokerages have issued reports on GDDY. Morgan Stanley boosted their price target on GoDaddy from $132.00 to $137.00 and gave the company an "equal weight" rating in a research note on Friday, May 3rd. Raymond James started coverage on GoDaddy in a research report on Wednesday, March 27th. They set a "strong-buy" rating and a $150.00 target price on the stock. Piper Sandler increased their price target on GoDaddy from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. increased their price target on GoDaddy from $128.00 to $136.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Finally, Robert W. Baird increased their price target on GoDaddy from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 25th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $142.73.

GoDaddy Price Performance

The stock has a market cap of $18.80 billion, a P/E ratio of 10.96 and a beta of 1.09. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.47 and a current ratio of 0.55. The business has a 50 day simple moving average of $121.36 and a 200-day simple moving average of $107.97.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.93 EPS for the current year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the transaction, the chief operating officer now owns 200,632 shares in the company, valued at approximately $24,597,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares of the company's stock, valued at approximately $24,597,483.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now directly owns 116,328 shares in the company, valued at approximately $14,055,912.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,234 shares of company stock worth $14,025,346. 0.54% of the stock is owned by company insiders.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently modified their holdings of GDDY. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy in the 4th quarter valued at about $28,000. GAMMA Investing LLC grew its position in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company's stock worth $31,000 after acquiring an additional 133 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in GoDaddy during the 4th quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV grew its position in GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock worth $37,000 after acquiring an additional 205 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of GoDaddy in the 3rd quarter worth approximately $43,000. 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.