GoDaddy (NYSE:GDDY) Trading Up 1.6% – Here’s Why

GoDaddy Inc. (NYSE:GDDY)’s stock price traded up 1.6% during mid-day trading on Monday . The company traded as high as $210.19 and last traded at $210.17. 170,829 shares traded hands during trading, a decline of 88% from the average session volume of 1,454,614 shares. The stock had previously closed at $206.78.

Wall Street Analyst Weigh In

A number of research analysts have commented on GDDY shares. Piper Sandler lifted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group increased their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.57.

GoDaddy Stock Down 3.5 %

The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 15.47 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm’s 50 day moving average is $182.65 and its two-hundred day moving average is $161.56.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the transaction, the chief financial officer now owns 93,102 shares of the company’s stock, valued at $14,486,671.20. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,503 shares of company stock valued at $3,950,683 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after buying an additional 147,105 shares during the last quarter. Geode Capital Management LLC raised its position in shares of GoDaddy by 2.5% during 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 acquiring an additional 84,550 shares in the last quarter. FMR LLC lifted its stake in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Federated Hermes Inc. boosted its holdings in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $214,584,000 after purchasing an additional 203,909 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

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.