GoDaddy (NYSE:GDDY) Trading Down 0.4% Following Insider Selling

Shares of GoDaddy Inc. (NYSE:GDDY) were down 0.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $205.90 and last traded at $207.58. Approximately 127,699 shares traded hands during trading, a decline of 91% from the average daily volume of 1,459,901 shares. The stock had previously closed at $208.34.

Specifically, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now owns 21,505 shares in the company, valued at $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. B. Riley lifted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird upped their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group raised their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $181.57.

GoDaddy Trading Up 0.3 %

The company has a fifty day moving average of $179.62 and a two-hundred day moving average of $159.82. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of 16.14 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $0.89 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that GoDaddy Inc. will post 4.95 EPS for the current year.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in GDDY. Principal Financial Group Inc. lifted its holdings in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after buying an additional 6,424 shares during the period. Highland Capital Management LLC acquired a new stake in GoDaddy in the third quarter valued at $1,132,000. Swedbank AB boosted its position in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its holdings in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares in the last quarter. Hedge funds and other institutional investors 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.