GoDaddy (NYSE:GDDY) Reaches New 12-Month High at $88.09

Shares of GoDaddy Inc. (NYSE:GDDY) hit a new 52-week high on Monday . The company traded as high as $88.09 and last traded at $88.00, with a volume of 270554 shares trading hands. The stock had previously closed at $87.65.

Analyst Upgrades and Downgrades

Several brokerages have commented on GDDY. Oppenheimer initiated coverage on shares of GoDaddy in a report on Tuesday, October 17th. They issued a “market perform” rating on the stock. Piper Sandler lifted their price objective on shares of GoDaddy from $84.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of GoDaddy in a research note on Wednesday, September 13th. B. Riley increased their price target on GoDaddy from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. Finally, StockNews.com upgraded GoDaddy from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.09.

GoDaddy Stock Performance

The stock’s 50 day simple moving average is $76.02 and its two-hundred day simple moving average is $74.19. The firm has a market capitalization of $12.79 billion, a PE ratio of 38.90 and a beta of 0.90.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 32,711 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $82.02, for a total value of $2,682,956.22. Following the transaction, the chief operating officer now owns 164,716 shares in the company, valued at approximately $13,510,006.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Roger Chen sold 32,711 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $82.02, for a total value of $2,682,956.22. Following the completion of the transaction, the chief operating officer now owns 164,716 shares in the company, valued at approximately $13,510,006.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,164 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $73.57, for a total transaction of $232,775.48. Following the completion of the sale, the chief executive officer now directly owns 269,961 shares of the company’s stock, valued at $19,861,030.77. The disclosure for this sale can be found here. In the last three months, insiders sold 73,249 shares of company stock valued at $5,717,114. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Parkside Financial Bank & Trust increased its position in GoDaddy by 7.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock valued at $144,000 after acquiring an additional 137 shares during the period. Whittier Trust Co. lifted its holdings in shares of GoDaddy by 9.1% during the third quarter. Whittier Trust Co. now owns 1,683 shares of the technology company’s stock worth $125,000 after purchasing an additional 141 shares during the period. Arizona State Retirement System grew its position in GoDaddy by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 39,966 shares of the technology company’s stock valued at $2,977,000 after buying an additional 162 shares during the last quarter. Alaska Permanent Fund Corp increased its stake in GoDaddy by 0.8% in the 3rd quarter. Alaska Permanent Fund Corp now owns 20,023 shares of the technology company’s stock valued at $1,491,000 after buying an additional 164 shares during the period. Finally, Shell Asset Management Co. raised its position in GoDaddy by 1.0% during the 3rd quarter. Shell Asset Management Co. now owns 18,869 shares of the technology company’s stock worth $1,405,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 95.03% 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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.