According to the company’s most recent SEC filing, IndexIQ Advisors LLC purchased new shares of GoDaddy Inc. (NYSE: GDDY – Get Rating) during the first quarter. Institutional investors bought 440 shares of the tech company, worth about $37,000.
Other large investors have also bought and sold shares of the company recently. Ellevest Inc. increased its stake in GoDaddy by 1,340.9% in the first quarter. Ellevest Inc. now owns 317 shares of the tech company’s stock, worth $27,000, after buying an additional 295 shares in the previous quarter. Norwood Financial Corp acquired GoDaddy’s new position in the fourth quarter for about $34,000. Steward Partners Investment Advisory LLC increased its stake in GoDaddy by 179.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 558 shares of the tech company’s stock, valued at $47,000, after buying an additional 358 shares in the previous quarter. Aquire Wealth Advisors LLC acquired a new stake in GoDaddy in the fourth quarter for about $65,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in GoDaddy stock worth approximately $66,000 in the first quarter. Institutional investors and hedge funds own 98.38% of the company.
Wall Street analysts predict growth
Several brokerages have recently weighed in on GDDY. Raymond James lowered his price target on GoDaddy to $100.00 from $108.00 and gave the company a “strong buy” rating in a report on Thursday, Aug. 4. Evercore ISI raised its price target on GoDaddy stock to $91.00 in a report on Tuesday, Aug. 9. Benchmark raised its price target on GoDaddy stock to $106.00 from $102.00 in a research note on Thursday, May 5, and gave the stock a “buy” rating. Barclays raised its price target on GoDaddy stock to $107.00 from $104.00 in a research note on Thursday, Aug. 4, and gave the company an “overweight” rating. Finally, Morgan Stanley raised its price target on GoDaddy from $91.00 to $93.00 in a research note on Thursday, Aug. 4, with an “equal weight” rating on the stock. One research analyst has a hold rating on the stock, five have a buy rating and one has a strong buy rating on the company. The company has an average Buy rating and an average price target of $100.75, according to MarketBeat.
GoDaddy Price Performance
NYSE: GDDY opened Friday at $81.31. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 39.28, and a beta of 0.95. The company’s asset-liability ratio is 46.37, the current ratio is 0.63, and the quick ratio is 0.58. The company’s 50-day simple moving average is $72.22 and its 200-day simple moving average is $76.92. GoDaddy Inc. had a 12-month low of $64.81 and a 12-month high of $88.32.
In other GoDaddy news, CEO Amanpal Singh Bhutani sold 1,516 shares of the company in trading on Thursday, June 2. The stock sold at an average price of $73.76 for a total value of $111,820.16. After the sale, the CEO now owns 222,535 shares of the company’s stock, valued at $16,414,181.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 1,516 shares in the company in a deal that took place on Thursday, June 2. The shares sold at an average price of $73.76 for a total transaction value of $111,820.16. Following the transaction, the CEO now directly owns 222,535 shares of the company’s stock, worth approximately $16,414,181.60. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In addition, Chief Financial Officer Mark McCcaffrey sold 9,776 shares of the company in a transaction that took place on Tuesday, July 5. The average selling price of these shares was $69.86 for a total value of $682,951.36. Following the sale, the CFO now directly owns 84,950 shares of the company, worth approximately $5,934,607. Disclosures for this sale can be found here. Over the past ninety days, insiders sold 20,716 shares of the company, worth $1,482,907. 0.37% of shares are held by insiders.
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GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company offers domain registration products that can attract customers in the initial stages of establishing a digital identity. It also offers shared website hosting products that offer a variety of applications and products such as web analytics, secure sockets layer certificates and WordPress; website hosting on virtual private servers and virtual private server products, allowing customers to choose the right one for their application procedures, requirements, and growing server configurations; managed products, which are used to set up, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help protect customers’ online presence.
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