GoDaddy (NYSE:GDDY) Stock Price Down 0.4% Following Insider Selling

GoDaddy Inc. (NYSE:GDDY)’s share price was down 0.4% during mid-day trading on Thursday following insider selling activity. The company traded as low as $205.90 and last traded at $207.58. Approximately 127,699 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,459,901 shares. The stock had previously closed at $208.34.

Specifically, CAO Phontip Palitwanon sold 1,554 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the sale, the chief accounting officer now directly owns 21,505 shares in the company, valued at $4,384,869.50. This trade represents a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several brokerages have commented on GDDY. Piper Sandler upped their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Benchmark lifted their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Five investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.57.

GoDaddy Stock Down 1.0 %

The stock’s fifty day moving average price is $180.63 and its 200-day moving average price is $160.28. 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 company has a market capitalization of $29.02 billion, a price-to-earnings ratio of 15.98 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last issued 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. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned $0.89 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Institutional Trading of GoDaddy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its position in shares of GoDaddy by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock worth $68,565,000 after purchasing an additional 38,511 shares during the last quarter. Tidal Investments LLC grew its stake in shares of GoDaddy by 38.7% in the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after buying an additional 5,205 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of GoDaddy in the third quarter valued at $922,000. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter worth $31,000. Finally, Te Ahumairangi Investment Management Ltd raised its position in 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 acquiring an additional 6,974 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

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.