Wells Fargo & Company assumed coverage on shares of GoDaddy (NYSE:GDDY – Free Report) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $198.00 target price on the technology company’s stock.
A number of other research firms have also weighed in on GDDY. Robert W. Baird lifted their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. 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. Citigroup increased their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Morgan Stanley raised their price target on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, B. Riley upped their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.07.
Read Our Latest Stock Analysis on GoDaddy
GoDaddy Stock Performance
Insider Activity
In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the transaction, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at $4,534,321.76. The trade was a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,483 shares of company stock worth $4,256,183 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.
Hedge Funds Weigh In On GoDaddy
Several hedge funds have recently bought and sold shares of GDDY. Creative Planning boosted its holdings in GoDaddy by 88.6% in the second quarter. Creative Planning now owns 10,019 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 4,707 shares during the period. NewEdge Advisors LLC boosted its stake 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 buying an additional 6,207 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of GoDaddy during the second quarter worth about $245,000. Truist Financial Corp increased its stake in shares of GoDaddy by 1.1% during the second 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 raised its holdings in GoDaddy by 10.9% in the second quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after acquiring an additional 1,764 shares in the last quarter. Institutional investors and hedge funds 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.
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