Godaddy’s (GDDY) Buy Rating Reaffirmed at B. Riley

B. Riley reaffirmed their buy rating on shares of Godaddy (NYSE:GDDY) in a report released on Wednesday. B. Riley currently has a $53.00 price target on the technology company’s stock.

Several other research analysts also recently issued reports on the stock. BidaskClub raised shares of Godaddy from a buy rating to a strong-buy rating in a research report on Saturday, October 28th. Piper Jaffray Companies raised their price objective on shares of Godaddy from $53.00 to $60.00 and gave the stock an overweight rating in a research report on Monday, November 13th. Royal Bank of Canada reaffirmed a buy rating and issued a $53.00 target price on shares of Godaddy in a report on Wednesday, November 22nd. William Blair initiated coverage on shares of Godaddy in a report on Thursday, October 5th. They issued an outperform rating on the stock. Finally, Jefferies Group lifted their target price on shares of Godaddy from $55.00 to $58.00 and gave the company a buy rating in a report on Tuesday, November 7th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Godaddy has a consensus rating of Buy and an average price target of $50.43.

Shares of Godaddy (GDDY) traded up $0.54 during trading on Wednesday, reaching $50.55. 1,229,200 shares of the company’s stock traded hands, compared to its average volume of 1,617,300. Godaddy has a 52 week low of $34.40 and a 52 week high of $51.35. The company has a debt-to-equity ratio of 5.15, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $8,520.00 and a P/E ratio of 388.85.

In other Godaddy news, EVP Nima Kelly sold 699 shares of Godaddy stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $48.48, for a total transaction of $33,887.52. Following the completion of the transaction, the executive vice president now owns 28,235 shares in the company, valued at $1,368,832.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $43.67, for a total transaction of $1,528,450.00. The disclosure for this sale can be found here. Insiders sold 7,859,345 shares of company stock valued at $370,551,922 in the last quarter. Company insiders own 22.68% of the company’s stock.

Several large investors have recently bought and sold shares of GDDY. Public Employees Retirement Association of Colorado raised its position in shares of Godaddy by 66.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,462 shares of the technology company’s stock valued at $104,000 after buying an additional 986 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Godaddy in the second quarter valued at approximately $118,000. Sei Investments Co. grew its holdings in Godaddy by 160.4% in the second quarter. Sei Investments Co. now owns 3,706 shares of the technology company’s stock valued at $158,000 after purchasing an additional 2,283 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Godaddy by 142.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,605 shares of the technology company’s stock valued at $195,000 after purchasing an additional 2,707 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Godaddy by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,476 shares of the technology company’s stock valued at $232,000 after purchasing an additional 397 shares during the period. 84.43% 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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