GoDaddy (NYSE:GDDY) Trading Down 0.9% – Here’s Why

GoDaddy Inc. (NYSE:GDDY) shares fell 0.9% during trading on Friday . The company traded as low as $207.03 and last traded at $207.03. 107,974 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,457,319 shares. The stock had previously closed at $208.91.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GDDY. Benchmark upped their price objective 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. Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. B. Riley increased their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their price target on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.57.

GoDaddy Price Performance

The stock has a market cap of $29.02 billion, a P/E ratio of 16.00 and a beta of 1.15. The company has a 50 day simple moving average of $179.62 and a 200 day simple moving average of $159.82. The company has a current ratio of 0.56, a quick 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. Sell-side analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the transaction, the chief operating officer now directly owns 187,632 shares in the company, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at approximately $14,486,671.20. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,503 shares of company stock worth $4,102,853. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the 3rd quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new position in GoDaddy in the second quarter worth $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the third quarter worth approximately $31,000. Finally, ORG Partners LLC purchased a new position in GoDaddy in the 2nd quarter worth about $32,000. 90.28% of the stock is owned by institutional investors.

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.