GoDaddy (NYSE:GDDY) Stock Price Down 5% After Insider Selling

GoDaddy Inc. (NYSE:GDDY) traded down 5% during trading on Thursday following insider selling activity. The company traded as low as $76.69 and last traded at $76.3030. 236,539 shares were traded during mid-day trading, a decline of 90% from the average session volume of 2,298,929 shares. The stock had previously closed at $80.28.

Specifically, CFO Mark Mccaffrey sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.92, for a total value of $290,220.00. Following the completion of the transaction, the chief financial officer owned 105,728 shares of the company’s stock, valued at approximately $8,766,965.76. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several research analysts recently weighed in on GDDY shares. JPMorgan Chase & Co. dropped their price target on GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group dropped their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Piper Sandler started coverage on GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target on the stock. Finally, Citigroup dropped their price target on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.57.

GoDaddy Price Performance

The stock’s 50-day moving average is $85.68 and its 200 day moving average is $98.49. The stock has a market capitalization of $10.06 billion, a PE ratio of 12.07, a P/E/G ratio of 0.73 and a beta of 0.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 EPS. As a group, equities analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy during the 4th quarter worth $25,000. Activest Wealth Management increased its stake in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of GoDaddy during the 4th quarter valued at about $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of GoDaddy by 145.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after acquiring an additional 150 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

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.