GoDaddy (NYSE:GDDY) Stock Price Down 0.9% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on GDDY shares. Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark upped their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $181.57.

GoDaddy Trading Down 1.0 %

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 has a market cap of $29.03 billion, a PE ratio of 15.98 and a beta of 1.15. The business’s fifty day moving average is $180.63 and its 200 day moving average is $160.44.

GoDaddy (NYSE:GDDY) last released its quarterly 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 analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction 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 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 through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares in the company, valued at $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,503 shares of company stock worth $4,102,853 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GDDY. Franklin Resources Inc. grew its holdings in shares of GoDaddy by 10.2% during the third 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 in the last quarter. Tidal Investments LLC grew its stake in GoDaddy by 38.7% in 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 position in GoDaddy in the 3rd quarter valued at $922,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth $31,000. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in shares of GoDaddy by 86.8% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock worth $2,340,000 after purchasing an additional 6,974 shares during the last quarter. Institutional investors and hedge funds 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.