GoDaddy (NYSE:GDDY) CAO Sells $118,096.50 in Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 1,310 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the completion of the transaction, the chief accounting officer directly owned 20,349 shares of the company’s stock, valued at approximately $1,834,462.35. The trade was a 6.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, March 3rd, Phontip Palitwanon sold 766 shares of GoDaddy stock. The stock was sold at an average price of $87.83, for a total transaction of $67,277.78.

GoDaddy Trading Up 0.5%

Shares of GDDY stock opened at $81.18 on Friday. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $193.55. The company has a market capitalization of $10.83 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.74 and a beta of 0.96. The business’s fifty day moving average is $97.46 and its 200 day moving average is $120.99.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.22. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent analyst reports. Evercore set a $95.00 price objective on GoDaddy in a report on Wednesday, February 25th. Benchmark lowered their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. UBS Group dropped their target price on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Piper Sandler initiated coverage on shares of GoDaddy in a research note on Thursday. They issued a “neutral” rating and a $93.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $125.57.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently modified their holdings of the company. Sivia Capital Partners LLC lifted its position in GoDaddy by 90.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after buying an additional 1,552 shares during the last quarter. Penserra Capital Management LLC boosted its stake in GoDaddy by 14.0% in the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after buying an additional 92 shares in the last quarter. Prospera Financial Services Inc grew its position in GoDaddy by 54.6% during the second quarter. Prospera Financial Services Inc now owns 7,508 shares of the technology company’s stock valued at $1,352,000 after acquiring an additional 2,651 shares during the last quarter. Aviva PLC grew its position in GoDaddy by 7.7% during the second quarter. Aviva PLC now owns 105,673 shares of the technology company’s stock valued at $19,027,000 after acquiring an additional 7,562 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of GoDaddy by 7.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 277,258 shares of the technology company’s stock worth $49,923,000 after acquiring an additional 19,104 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

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.