GoDaddy (NYSE:GDDY) Shares Down 1.3% - Here's Why

GoDaddy Inc. (NYSE:GDDY - Get Free Report)'s stock price fell 1.3% during mid-day trading on Tuesday . The stock traded as low as $205.83 and last traded at $206.26. 159,893 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,452,558 shares. The stock had previously closed at $209.03.

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Piper Sandler lifted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Barclays increased their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Five 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 MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and an average target price of $181.57.

GoDaddy Trading Down 0.8 %

The business's 50-day moving average is $181.71 and its two-hundred day moving average is $161.08. The stock has a market capitalization of $29.12 billion, a PE ratio of 15.99 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion during 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 business's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the sale, the chief executive officer now directly owns 348,956 shares in the company, valued at approximately $54,297,553.60. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,503 shares of company stock worth $3,950,683 in the last 90 days. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On GoDaddy

Large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in GoDaddy in the third quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in GoDaddy in the second quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the third quarter worth $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth $31,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the 2nd quarter worth about $36,000. 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.