Insider Selling: GoDaddy (NYSE:GDDY) CAO Sells $48,704.12 in Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 542 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the transaction, the chief accounting officer directly owned 19,995 shares in the company, valued at approximately $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Phontip Palitwanon also recently made the following trade(s):

• On Monday, May 18th, Phontip Palitwanon sold 12 shares of GoDaddy stock. The shares were sold at an average price of $89.15, for a total value of $1,069.80.
• On Tuesday, March 10th, Phontip Palitwanon sold 1,310 shares of GoDaddy stock. The stock was sold at an average price of $90.15, for a total value of $118,096.50.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $84.59 on Friday. 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 Inc. has a twelve month low of $73.06 and a twelve month high of $183.34. The stock’s 50 day moving average is $85.70 and its 200-day moving average is $99.60. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.76 and a beta of 0.90.

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 analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm earned $1.51 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

Institutional investors have recently bought and sold shares of the stock. Rachor Investment Advisory Services LLC bought a new stake in GoDaddy during the fourth quarter worth $25,000. Activest Wealth Management grew its holdings in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in GoDaddy during the fourth quarter worth $25,000. Brown Brothers Harriman & Co. grew its holdings in GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after buying an additional 150 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after buying an additional 170 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of a number of research reports. UBS Group initiated coverage on GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price on the stock. Citigroup lowered their target price on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Cantor Fitzgerald lowered their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Wells Fargo & Company upped their target price on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.57.

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.