GoDaddy (NYSE:GDDY) Director Sigal Zarmi Sells 350 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total value of $30,744.00. Following the transaction, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GoDaddy Price Performance

GDDY opened at $84.11 on Thursday. The stock’s 50-day moving average price is $85.54 and its 200 day moving average price is $100.02. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $183.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.80 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $1.51 EPS. GoDaddy’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in GDDY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in GoDaddy in the fourth quarter valued at $25,000. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy during the 4th quarter worth about $25,000. Activest Wealth Management boosted its position in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after acquiring an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of several research reports. Citigroup dropped their price target on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Cantor Fitzgerald decreased their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group cut their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Barclays decreased their price objective on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.57.

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.