GoDaddy (NYSE:GDDY) Shares Down 0.7% – Time to Sell?

Shares of GoDaddy Inc. (NYSE:GDDY) dropped 0.7% during trading on Wednesday . The company traded as low as $197.07 and last traded at $198.33. Approximately 173,889 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,457,812 shares. The stock had previously closed at $199.73.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GDDY. Barclays boosted their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Robert W. Baird boosted 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. B. Riley boosted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Price Performance

The company has a market cap of $27.78 billion, a P/E ratio of 15.29 and a beta of 1.11. The company has a fifty day simple moving average of $170.11 and a 200-day simple moving average of $155.14. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, sell-side analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at $2,783,599.92. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,345 shares of company stock valued at $3,897,255 in the last three months. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

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

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.