GoDaddy (NYSE:GDDY) Shares Up 1.2% – Here’s Why

GoDaddy Inc. (NYSE:GDDY)’s stock price traded up 1.2% during mid-day trading on Monday . The stock traded as high as $200.12 and last traded at $198.71. 297,313 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,450,497 shares. The stock had previously closed at $196.35.

Analyst Upgrades and Downgrades

GDDY has been the topic of several recent research reports. Robert W. Baird increased their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. B. Riley lifted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Raymond James raised their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Five equities research 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 company. According to data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Stock Performance

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a 50-day moving average of $168.48 and a two-hundred day moving average of $154.54. The company has a market capitalization of $27.78 billion, a PE ratio of 15.33 and a beta of 1.11.

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

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated 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 in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the sale, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,345 shares of company stock valued at $3,897,255 in the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GDDY. Franklin Resources Inc. lifted its position in GoDaddy by 10.2% during the third quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock worth $68,565,000 after buying an additional 38,511 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of GoDaddy by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock worth $2,923,000 after acquiring an additional 5,205 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of GoDaddy during the 3rd quarter valued at about $922,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter valued at about $31,000. Finally, Te Ahumairangi Investment Management Ltd grew its holdings in shares of GoDaddy by 86.8% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock valued at $2,340,000 after purchasing an additional 6,974 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.