Insider Selling: GoDaddy (NYSE:GDDY) Director Sells 650 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) Director Leah Sweet sold 650 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total value of $56,459.00. Following the sale, the director directly owned 11,414 shares in the company, valued at $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

GoDaddy Stock Down 0.5%

GDDY traded down $0.45 on Wednesday, hitting $88.78. The company had a trading volume of 2,246,725 shares, compared to its average volume of 2,773,383. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 0.82 and a beta of 0.96. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $193.55. The stock has a fifty day moving average price of $102.57 and a 200-day moving average price of $123.63.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.22. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. Analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GDDY shares. Barclays dropped their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. UBS Group cut their price target on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Royal Bank Of Canada cut their price objective on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Wells Fargo & Company dropped their price objective on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. One equities research 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 MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $131.93.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GDDY. Hemington Wealth Management increased its stake in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the period. Coldstream Capital Management Inc. raised its position in shares of GoDaddy by 4.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after acquiring an additional 86 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of GoDaddy by 14.0% during the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after purchasing an additional 92 shares during the period. NewSquare Capital LLC lifted its holdings in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares in the last quarter. Finally, MAI Capital Management raised its stake in shares of GoDaddy by 9.7% in the second quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock worth $203,000 after purchasing an additional 100 shares during the last quarter. 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.