Godaddy (GDDY) Sets New 1-Year High at $56.25

Shares of Godaddy Inc (NYSE:GDDY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.25 and last traded at $56.28, with a volume of 541045 shares. The stock had previously closed at $55.78.

Several research firms have issued reports on GDDY. Zacks Investment Research upgraded Godaddy from a “sell” rating to a “hold” rating in a report on Tuesday, February 6th. Barclays boosted their price objective on Godaddy from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Oppenheimer restated a “buy” rating and set a $53.00 price objective (up previously from $50.00) on shares of Godaddy in a report on Tuesday, November 7th. Morgan Stanley boosted their price objective on Godaddy from $56.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Finally, TheStreet upgraded Godaddy from a “c-” rating to a “b-” rating in a report on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $52.86.

The company has a market capitalization of $9,280.00 and a price-to-earnings ratio of 434.62. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.57.

In related news, insider Barbara J. Rechterman sold 39,314 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $47.09, for a total value of $1,851,296.26. Following the completion of the sale, the insider now owns 28,613 shares of the company’s stock, valued at approximately $1,347,386.17. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rick Kimball sold 7,102,622 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $47.12, for a total value of $334,675,548.64. The disclosure for this sale can be found here. Insiders sold a total of 7,789,449 shares of company stock worth $369,124,793 in the last quarter. 22.68% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in shares of Godaddy by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after buying an additional 397 shares in the last quarter. LPL Financial LLC grew its stake in shares of Godaddy by 8.3% in the 4th quarter. LPL Financial LLC now owns 13,250 shares of the technology company’s stock valued at $666,000 after buying an additional 1,012 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Godaddy by 49.3% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 3,675 shares of the technology company’s stock valued at $160,000 after buying an additional 1,213 shares in the last quarter. Aperio Group LLC grew its stake in shares of Godaddy by 23.3% in the 3rd quarter. Aperio Group LLC now owns 8,624 shares of the technology company’s stock valued at $375,000 after buying an additional 1,631 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Godaddy by 3.1% in the 4th quarter. Alliancebernstein L.P. now owns 60,266 shares of the technology company’s stock valued at $3,030,000 after buying an additional 1,810 shares in the last quarter. 84.84% of the stock is owned by institutional investors and hedge funds.

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About Godaddy

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.

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