GoDaddy (NYSE:GDDY) Sets New 52-Week Low After Analyst Downgrade

Shares of GoDaddy Inc. (NYSE:GDDY) hit a new 52-week low during mid-day trading on Monday after Benchmark lowered their price target on the stock from $240.00 to $210.00. Benchmark currently has a buy rating on the stock. GoDaddy traded as low as $86.78 and last traded at $87.40, with a volume of 1101845 shares. The stock had previously closed at $90.64.

Other equities research analysts have also issued reports about the company. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. Cantor Fitzgerald decreased their price objective on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. B. Riley Financial reduced their target price on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Royal Bank Of Canada set a $70.00 target price on shares of GoDaddy in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.21.

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the transaction, the chief financial officer directly owned 66,816 shares in the company, valued at $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction on 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 of the company’s stock, valued at $51,065,076.02. This represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,615 shares of company stock worth $1,743,102. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GDDY. Hemington Wealth Management increased its position in GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GoDaddy during the 4th quarter valued at about $25,000. Rachor Investment Advisory Services LLC purchased a new stake in GoDaddy in the fourth quarter valued at approximately $25,000. Activest Wealth Management increased its holdings in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares during the last quarter. Finally, NewSquare Capital LLC grew its position in GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Down 3.9%

The stock has a market cap of $11.77 billion, a PE ratio of 15.06, a PEG ratio of 0.82 and a beta of 0.94. The company has a 50 day moving average price of $108.75 and a two-hundred day moving average price of $126.57. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57.

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.