GoDaddy (NYSE:GDDY) Reaches New 52-Week Low – Should You Sell?

GoDaddy Inc. (NYSE:GDDY) shares hit a new 52-week low on Tuesday . The company traded as low as $87.13 and last traded at $88.0490, with a volume of 270491 shares changing hands. The stock had previously closed at $89.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Royal Bank Of Canada set a $70.00 price target on GoDaddy in a report on Wednesday, January 7th. Benchmark reissued a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. Citigroup decreased their target price on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Jefferies Financial Group lowered their target price on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $166.21.

GoDaddy Trading Up 2.1%

The company’s 50 day simple moving average is $111.64 and its two-hundred day simple moving average is $128.41. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.81 and a beta of 0.94.

Insiders Place Their Bets

In other news, 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 transaction, the chief executive officer owned 399,133 shares in the company, valued at $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the completion of the sale, the chief financial officer owned 66,816 shares of the company’s stock, valued at $8,548,439.04. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,615 shares of company stock valued at $1,743,102. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently made changes to their positions in the company. Hemington Wealth Management increased its holdings in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares during the period. Coldstream Capital Management Inc. boosted its position in GoDaddy by 4.8% in the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after buying an additional 86 shares during the last quarter. Penserra Capital Management LLC increased its holdings in GoDaddy by 14.0% in the 2nd quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after buying an additional 92 shares during the period. NewSquare Capital LLC increased its holdings in GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares during the period. Finally, MAI Capital Management raised its position in GoDaddy by 9.7% during the 2nd quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock worth $203,000 after buying an additional 100 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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.