GoDaddy (NYSE:GDDY) Hits New 12-Month Low – Should You Sell?

Shares of GoDaddy Inc. (NYSE:GDDY) reached a new 52-week low during trading on Wednesday . The stock traded as low as $91.29 and last traded at $91.1740, with a volume of 474400 shares changing hands. The stock had previously closed at $96.09.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GDDY shares. B. Riley Financial dropped their price objective on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. UBS Group reduced 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. Evercore decreased their price objective on GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, Morgan Stanley cut their price target on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.21.

GoDaddy Trading Down 4.8%

The firm has a market capitalization of $12.36 billion, a PE ratio of 15.79, a P/E/G ratio of 0.89 and a beta of 0.94. The business has a 50 day moving average price of $114.82 and a 200-day moving average price of $130.52. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the business’s 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 sale, the chief financial officer owned 66,816 shares in the company, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,615 shares of company stock worth $1,743,102. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. GW&K Investment Management LLC lifted its position in shares of GoDaddy by 57.6% during the 4th quarter. GW&K Investment Management LLC now owns 498 shares of the technology company’s stock valued at $62,000 after acquiring an additional 182 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in GoDaddy during the fourth quarter worth $769,000. Waddell & Associates LLC purchased a new stake in GoDaddy during the fourth quarter worth $317,000. Fox Run Management L.L.C. grew its holdings in GoDaddy by 40.0% in the fourth quarter. Fox Run Management L.L.C. now owns 19,673 shares of the technology company’s stock valued at $2,441,000 after purchasing an additional 5,624 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of GoDaddy by 41.7% in the fourth quarter. Cerity Partners LLC now owns 41,376 shares of the technology company’s stock valued at $5,134,000 after buying an additional 12,186 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.