Phontip Palitwanon Sells 2,261 Shares of GoDaddy (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 2,261 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $91.81, for a total transaction of $207,582.41. Following the transaction, the chief accounting officer owned 17,734 shares of the company’s stock, valued at $1,628,158.54. This represents a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 2nd, Phontip Palitwanon sold 542 shares of GoDaddy stock. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12.
• 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 transaction of $1,069.80.

GoDaddy Stock Down 5.8%

GDDY stock opened at $94.65 on Friday. The stock has a market capitalization of $11.99 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.90 and a beta of 0.90. The firm has a 50-day simple moving average of $87.57 and a 200-day simple moving average of $87.79. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 561.10. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $150.47.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that GoDaddy Inc. will post 7.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the topic of several research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $90.00 target price on shares of GoDaddy in a research report on Friday, July 31st. Raymond James Financial cut GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 price target for the company. in a research report on Friday, July 31st. UBS Group started coverage on GoDaddy in a research note on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered GoDaddy to a “buy” rating in a report on Friday, July 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $95.00 price target (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $110.33.

Trending Headlines about GoDaddy

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: GoDaddy CFO comments highlighted growth opportunities for the Airo product, higher average revenue per user and the company’s positioning as consumers increasingly use AI to discover businesses online. The discussion may support the investment case for expanding revenue beyond traditional domain registration. Exclusive: GoDaddy CFO on Airo, ARPU growth and the shift to AI discovery

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rachor Investment Advisory Services LLC purchased a new position in GoDaddy in the fourth quarter worth approximately $25,000. Activest Wealth Management raised its position in GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Brown Brothers Harriman & Co. raised its position in GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after purchasing an additional 150 shares during the period. Harbour Investments Inc. lifted its stake in shares of GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after purchasing an additional 170 shares during the last quarter. Finally, Entrust Financial LLC purchased a new position in shares of GoDaddy during the 4th quarter worth $35,000. 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.