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

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

Specifically, CAO Phontip Palitwanon sold 1,554 shares of the stock in a transaction 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 approximately $4,384,869.50. This represents a 6.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of analyst reports. Benchmark upped their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Finally, B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy Price Performance

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’s 50-day moving average price is $180.63 and its 200-day moving average price is $160.28. The company has a market capitalization of $29.02 billion, a price-to-earnings ratio of 15.98 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. Equities research analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in shares of GoDaddy by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock worth $68,565,000 after buying an additional 38,511 shares during the period. Tidal Investments LLC grew its holdings in GoDaddy by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock worth $2,923,000 after acquiring an additional 5,205 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in GoDaddy during the 3rd quarter worth $922,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy during the 3rd quarter valued at $31,000. Finally, Te Ahumairangi Investment Management Ltd lifted its stake in shares of GoDaddy by 86.8% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after purchasing an additional 6,974 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

About GoDaddy

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.