Phontip Palitwanon Sells 684 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 684 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $122,990.04. Following the sale, the chief accounting officer now owns 23,371 shares of the company’s stock, valued at $4,202,339.51. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Phontip Palitwanon also recently made the following trade(s):

• On Friday, May 16th, Phontip Palitwanon sold 10 shares of GoDaddy stock. The stock was sold at an average price of $190.43, for a total transaction of $1,904.30.

GoDaddy Stock Up 1.4%

Shares of NYSE:GDDY opened at $182.93 on Friday. GoDaddy Inc. has a one year low of $135.73 and a one year high of $216.00. The company has a 50 day moving average of $179.39 and a 200-day moving average of $189.38. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 28.36 and a beta of 1.07.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $2.76 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Barclays lowered their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. UBS Group raised their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. B. Riley raised their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Wall Street Zen cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $214.86.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new position in GoDaddy during the first quarter valued at approximately $1,468,000. Geneos Wealth Management Inc. grew its holdings in GoDaddy by 32.2% during the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the technology company’s stock valued at $132,000 after purchasing an additional 178 shares during the period. MBB Public Markets I LLC acquired a new position in GoDaddy during the first quarter valued at approximately $315,000. Ascent Group LLC grew its holdings in GoDaddy by 36.2% during the first quarter. Ascent Group LLC now owns 3,607 shares of the technology company’s stock valued at $650,000 after purchasing an additional 958 shares during the period. Finally, United Services Automobile Association acquired a new position in GoDaddy during the first quarter valued at approximately $604,000. 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.