Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) traded down 0.4% on Thursday following insider selling activity. The stock traded as low as $205.90 and last traded at $207.58. 127,699 shares were traded during trading, a decline of 91% from the average session volume of 1,459,901 shares. The stock had previously closed at $208.34.
Specifically, CAO Phontip Palitwanon sold 1,554 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the sale, the chief accounting officer now owns 21,505 shares in the company, valued at approximately $4,384,869.50. This trade represents a 6.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on GDDY shares. StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Barclays boosted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Piper Sandler upped their price objective on GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $181.57.
Get Our Latest Report on GDDY
GoDaddy Price Performance
The firm has a market capitalization of $29.33 billion, a PE ratio of 16.14 and a beta of 1.15. 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 stock has a fifty day moving average price of $179.62 and a 200-day moving average price of $159.82.
GoDaddy (NYSE:GDDY - Get Free Report) last posted its 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. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Sell-side analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.
Institutional Investors Weigh In On GoDaddy
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its position 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 purchasing an additional 38,511 shares in the last quarter. Tidal Investments LLC grew its stake in GoDaddy by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company's stock worth $2,923,000 after buying an additional 5,205 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in GoDaddy during the 3rd quarter valued at about $922,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter valued at about $31,000. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in GoDaddy by 86.8% in 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. Hedge funds and other institutional investors own 90.28% of the company's stock.
About GoDaddy
(
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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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