GoDaddy (NYSE:GDDY) Shares Down 1.3% – What’s Next?

Shares of GoDaddy Inc. (NYSE:GDDY) dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $205.83 and last traded at $206.26. Approximately 159,893 shares changed hands during trading, a decline of 89% from the average daily volume of 1,452,558 shares. The stock had previously closed at $209.03.

Analyst Ratings Changes

Several brokerages have recently commented on GDDY. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird upped their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays lifted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Five equities research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.57.

GoDaddy Stock Performance

The company has a market cap of $28.49 billion, a P/E ratio of 15.68 and a beta of 1.15. The business has a fifty day moving average of $183.43 and a 200 day moving average of $161.83. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $0.89 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 4.96 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the sale, the chief financial officer now owns 93,102 shares of the company’s stock, valued at $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the transaction, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,503 shares of company stock worth $4,158,033. Company insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after buying an additional 84,550 shares during the last quarter. FMR LLC increased its position in shares of GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Federated Hermes Inc. raised its holdings in GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GoDaddy by 17.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock valued at $214,584,000 after acquiring an additional 203,909 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.