GoDaddy (NYSE:GDDY) Shares Down 0.9% – Time to Sell?

GoDaddy Inc. (NYSE:GDDY) shares traded down 0.9% during trading on Tuesday . The company traded as low as $195.85 and last traded at $195.94. 365,898 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,456,564 shares. The stock had previously closed at $197.62.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler upped their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird upped their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Stock Down 0.5 %

The stock has a market capitalization of $27.60 billion, a P/E ratio of 15.14 and a beta of 1.15. The business has a 50-day moving average price of $171.63 and a 200 day moving average price of $156.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 2,684 shares of GoDaddy stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $422,005.32. Following the completion of the sale, the chief financial officer now owns 98,602 shares of the company’s stock, valued at $15,503,192.46. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 2,976 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. This represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,345 shares of company stock worth $3,396,525 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of GDDY. State Street Corp raised its stake in shares of GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after buying an additional 147,105 shares during the period. Geode Capital Management LLC lifted its holdings in GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after purchasing an additional 84,550 shares in the last quarter. FMR LLC grew its stake in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Federated Hermes Inc. raised its holdings in GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after buying an additional 203,909 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.