GoDaddy (NYSE:GDDY) Trading Down 0.9% – Time to Sell?

GoDaddy Inc. (NYSE:GDDY) shares were down 0.9% during mid-day trading on Thursday . The stock traded as low as $197.07 and last traded at $197.85. Approximately 1,340,813 shares traded hands during trading, a decline of 8% from the average daily volume of 1,463,176 shares. The stock had previously closed at $199.73.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. B. Riley raised their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Raymond James boosted their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Trading Down 0.9 %

The stock has a market cap of $27.78 billion, a PE ratio of 15.29 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company’s 50-day moving average price is $169.35 and its 200 day moving average price is $154.84.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.89 earnings per share. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,345 shares of company stock worth $3,897,255. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

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