GoDaddy (NYSE:GDDY) Trading Down 0.7% – What’s Next?

GoDaddy Inc. (NYSE:GDDY)’s share price fell 0.7% during mid-day trading on Wednesday . The company traded as low as $197.07 and last traded at $198.33. 173,889 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,457,812 shares. The stock had previously closed at $199.73.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GDDY. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. B. Riley raised their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Price Performance

The company has a market capitalization of $27.87 billion, a price-to-earnings ratio of 15.33 and a beta of 1.11. The company’s 50 day simple moving average is $168.48 and its 200-day simple moving average is $154.54. 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 posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at $28,551,961.44. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,345 shares of company stock worth $3,897,255. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew its position in GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after buying an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC increased its stake in GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after acquiring an additional 350,839 shares during the period. FMR LLC raised its position in GoDaddy by 19.8% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after purchasing an additional 235,934 shares in 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.