GoDaddy (NYSE:GDDY) Stock Price Up 1.1% - Here's What Happened

GoDaddy Inc. (NYSE:GDDY - Get Free Report) shares traded up 1.1% on Tuesday . The stock traded as high as $205.73 and last traded at $205.63. 231,319 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,461,146 shares. The stock had previously closed at $203.39.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Robert W. Baird raised their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $181.57.

GoDaddy Trading Up 0.3 %

The company's 50-day moving average price is $176.43 and its 200-day moving average price is $158.68. The firm has a market cap of $28.64 billion, a price-to-earnings ratio of 15.89 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 posted 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 earnings per share. Equities analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,949 shares of company stock valued at $3,785,993 over the last ninety days. Company insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the 2nd quarter worth $28,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the 3rd quarter worth $30,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth $31,000. Finally, ORG Partners LLC acquired a new stake in GoDaddy during the 2nd quarter worth $32,000. Institutional investors and hedge funds 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.

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