Phontip Palitwanon Sells 1,554 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CAO Phontip Palitwanon sold 1,554 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the completion of the transaction, the chief accounting officer now directly owns 21,505 shares of the company's stock, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Phontip Palitwanon also recently made the following trade(s):

• On Tuesday, December 3rd, Phontip Palitwanon sold 770 shares of GoDaddy stock. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80.
• On Friday, November 15th, Phontip Palitwanon sold 1 shares of GoDaddy stock. The stock was sold at an average price of $183.02, for a total transaction of $183.02.

GoDaddy Stock Performance

NYSE:GDDY traded up $3.52 during mid-day trading on Wednesday, reaching $208.37. 1,254,909 shares of the stock were exchanged, compared to its average volume of 1,465,531. 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 Inc. has a 1 year low of $99.90 and a 1 year high of $210.30. The company has a 50 day simple moving average of $177.46 and a 200-day simple moving average of $159.13. The stock has a market capitalization of $29.25 billion, a P/E ratio of 16.03 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating 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 net margin of 41.74% and a return on equity of 267.29%. The company's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. Analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. 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 research report on Wednesday, December 4th. Cantor Fitzgerald reiterated a "neutral" rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Jefferies Financial Group increased their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. B. Riley lifted their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. 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 company. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.57.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy in the third quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the 2nd quarter valued at approximately $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the third quarter valued at approximately $30,000. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter worth $31,000. Finally, ORG Partners LLC purchased a new position in GoDaddy in the second quarter worth $32,000. 90.28% of the stock is currently 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.

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