GoDaddy (NYSE:GDDY) Reaches New 12-Month Low – Here’s What Happened

GoDaddy Inc. (NYSE:GDDY) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $103.13 and last traded at $103.6590, with a volume of 161104 shares traded. The stock had previously closed at $104.46.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Cantor Fitzgerald dropped their target price on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Citigroup lowered their price objective on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Jefferies Financial Group cut their target price on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Monday, January 5th. JPMorgan Chase & Co. decreased their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, UBS Group lowered their target price on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.21.

GoDaddy Stock Performance

The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 0.94 and a beta of 0.95. The company has a 50-day moving average price of $121.86 and a 200-day moving average price of $137.43. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06.

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

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the sale, the director owned 19,957 shares in the company, valued at $2,656,476.27. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the sale, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $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 have sold 14,115 shares of company stock valued at $1,809,657. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently modified their holdings of the stock. Apollon Wealth Management LLC raised its position in shares of GoDaddy by 54.9% during the fourth quarter. Apollon Wealth Management LLC now owns 2,389 shares of the technology company’s stock worth $296,000 after purchasing an additional 847 shares during the period. Douglas Lane & Associates LLC increased its position in shares of GoDaddy by 0.5% in the fourth quarter. Douglas Lane & Associates LLC now owns 671,574 shares of the technology company’s stock worth $83,329,000 after acquiring an additional 3,102 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of GoDaddy during the fourth quarter valued at approximately $272,000. Greenleaf Trust lifted its position in shares of GoDaddy by 5.4% in the 4th quarter. Greenleaf Trust now owns 3,534 shares of the technology company’s stock valued at $438,000 after acquiring an additional 180 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in GoDaddy by 8.0% in the 4th quarter. Signaturefd LLC now owns 2,782 shares of the technology company’s stock worth $345,000 after purchasing an additional 206 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Company Profile

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.