GoDaddy (NYSE:GDDY) Sets New 12-Month Low – Should You Sell?

GoDaddy Inc. (NYSE:GDDY) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $108.63 and last traded at $109.2870, with a volume of 1499100 shares traded. The stock had previously closed at $112.24.

Analyst Ratings Changes

Several brokerages have recently commented on GDDY. Cantor Fitzgerald reduced their target price on GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Jefferies Financial Group reduced their price objective on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Monday, January 5th. Benchmark reiterated a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a report on Friday, October 31st. Finally, B. Riley reduced their price target on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $167.21.

GoDaddy Stock Down 2.6%

The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 1.02 and a beta of 0.95. The business has a fifty day moving average price of $125.59 and a two-hundred day moving average price of $140.42.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the transaction, the chief financial officer owned 66,816 shares in the company, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares in the company, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 14,115 shares of company stock valued at $1,809,657. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently added to or reduced their stakes in the company. Hemington Wealth Management raised its position in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of GoDaddy during the 2nd quarter valued at $26,000. NewSquare Capital LLC lifted its stake in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. Root Financial Partners LLC bought a new stake in GoDaddy in the third quarter worth $31,000. Finally, Brown Brothers Harriman & Co. increased its position in GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.