GoDaddy (NYSE:GDDY) Hits New 1-Year Low – Time to Sell?

GoDaddy Inc. (NYSE:GDDY) reached a new 52-week low during trading on Tuesday . The stock traded as low as $96.58 and last traded at $97.3250, with a volume of 69775 shares trading hands. The stock had previously closed at $100.16.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of recent analyst reports. Cantor Fitzgerald decreased their target price on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. UBS Group dropped their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Morgan Stanley cut their price objective on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. B. Riley cut their target price on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Citigroup cut their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $166.21.

GoDaddy Trading Down 6.4%

The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The stock’s 50 day moving average is $118.57 and its two-hundred day moving average is $133.54. The company has a market capitalization of $12.67 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the completion of the sale, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer owned 17,055 shares in the company, valued at approximately $2,190,544.20. The trade was a 12.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,615 shares of company stock valued at $1,743,102 over the last quarter. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of GoDaddy by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock valued at $2,587,754,000 after purchasing an additional 150,045 shares during the period. Geode Capital Management LLC raised its stake in GoDaddy by 2.2% during the second quarter. Geode Capital Management LLC now owns 3,779,220 shares of the technology company’s stock worth $677,726,000 after purchasing an additional 81,623 shares during the period. WCM Investment Management LLC lifted its stake in shares of GoDaddy by 1.8% in the 3rd quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company’s stock valued at $529,395,000 after purchasing an additional 66,144 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after purchasing an additional 1,128,646 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in GoDaddy by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,896,867 shares of the technology company’s stock valued at $396,378,000 after acquiring an additional 53,811 shares during the period. Hedge funds and other institutional investors 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.