GoDaddy (NYSE:GDDY) Sets New 1-Year Low – Here’s Why

GoDaddy Inc. (NYSE:GDDY)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $108.63 and last traded at $109.2870, with a volume of 1499100 shares traded. The stock had previously closed at $112.24.

Analyst Ratings Changes

Several equities research analysts have weighed in on GDDY shares. Jefferies Financial Group lowered their price objective on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Thursday, December 4th. UBS Group reduced their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. B. Riley lowered their target price on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Wells Fargo & Company cut their price target on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $166.21.

GoDaddy Stock Performance

The stock has a market cap of $14.50 billion, a P/E ratio of 18.53, a PEG ratio of 0.98 and a beta of 0.95. The stock has a fifty day simple moving average of $124.58 and a 200-day simple moving average of $139.97. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 earnings per share. Equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the sale, the director directly owned 19,957 shares in the company, valued at $2,656,476.27. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,115 shares of company stock valued at $1,809,657 over the last quarter. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in the business. CX Institutional grew its position in shares of GoDaddy by 13.1% in the second quarter. CX Institutional now owns 577 shares of the technology company’s stock valued at $104,000 after purchasing an additional 67 shares during the last quarter. Hemington Wealth Management grew its holdings in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after buying an additional 86 shares in the last quarter. UMB Bank n.a. boosted its position in shares of GoDaddy by 13.1% in the second quarter. UMB Bank n.a. now owns 795 shares of the technology company’s stock valued at $143,000 after acquiring an additional 92 shares during the period. Finally, Penserra Capital Management LLC increased its position in GoDaddy by 14.0% during the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.