GoDaddy Inc. (NYSE:GDDY) hit a new 52-week high on Tuesday after Jefferies Group raised their price target on the stock from $55.00 to $58.00. Jefferies Group currently has a buy rating on the stock. GoDaddy traded as high as $48.21 and last traded at $47.22, with a volume of 2046475 shares trading hands. The stock had previously closed at $46.86.

A number of other equities research analysts have also weighed in on GDDY. B. Riley restated a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a research note on Wednesday, August 9th. Stifel Nicolaus raised their price objective on GoDaddy from $41.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday. Oppenheimer Holdings, Inc. raised their price objective on GoDaddy from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Royal Bank Of Canada increased their target price on GoDaddy from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Raymond James Financial, Inc. increased their target price on GoDaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $48.62.

In related news, insider Barbara J. Rechterman sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $42.03, for a total value of $1,471,050.00. Following the sale, the insider now owns 54,741 shares of the company’s stock, valued at approximately $2,300,764.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Auguste Goldman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $41.86, for a total value of $418,600.00. Following the completion of the sale, the insider now directly owns 15,491 shares in the company, valued at approximately $648,453.26. The disclosure for this sale can be found here. In the last three months, insiders sold 12,260,560 shares of company stock worth $535,857,944. Company insiders own 22.68% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP lifted its holdings in shares of GoDaddy by 90.6% in the 2nd quarter. Engineers Gate Manager LP now owns 114,274 shares of the technology company’s stock worth $4,848,000 after purchasing an additional 54,328 shares during the last quarter. Vanguard Group Inc. increased its position in GoDaddy by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock valued at $225,720,000 after acquiring an additional 380,343 shares during the period. Victory Capital Management Inc. increased its position in GoDaddy by 5.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,629,173 shares of the technology company’s stock valued at $69,110,000 after acquiring an additional 81,509 shares during the period. Geode Capital Management LLC increased its position in GoDaddy by 18.4% in the 1st quarter. Geode Capital Management LLC now owns 384,671 shares of the technology company’s stock valued at $14,578,000 after acquiring an additional 59,759 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in GoDaddy by 16.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 31,770 shares of the technology company’s stock valued at $1,204,000 after acquiring an additional 4,403 shares during the period. 78.82% of the stock is currently owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 4.89, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $8,020.00 and a PE ratio of 161.59.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The firm had revenue of $557.80 million for the quarter, compared to analysts’ expectations of $551.26 million. During the same period last year, the firm earned ($0.11) EPS. The firm’s revenue was up 22.3% compared to the same quarter last year. equities research analysts forecast that GoDaddy Inc. will post 0.29 earnings per share for the current fiscal year.

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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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