GoDaddy (NYSE:GDDY) Shares Down 2.2% – Should You Sell?

GoDaddy Inc. (NYSE:GDDY)’s stock price dropped 2.2% during trading on Monday . The stock traded as low as $201.68 and last traded at $202.02. Approximately 660,015 shares changed hands during trading, a decline of 55% from the average daily volume of 1,459,995 shares. The stock had previously closed at $206.56.

Analysts Set New Price Targets

A number of research firms have issued reports on GDDY. Piper Sandler raised their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird upped their target price 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. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group increased their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five equities 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy Stock Performance

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 stock has a fifty day moving average price of $175.50 and a 200 day moving average price of $158.22. The firm has a market cap of $28.77 billion, a price-to-earnings ratio of 15.61 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted 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 business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $98,885.00. Following the sale, the director now owns 23,621 shares in the company, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,949 shares of company stock valued at $3,785,993. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently bought and sold shares of GDDY. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the 2nd quarter valued at $28,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy during the third quarter worth $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the third quarter valued at $31,000. Finally, ORG Partners LLC bought a new position in GoDaddy in the second quarter valued at about $32,000. Institutional investors and hedge funds 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.