Key Points
- GoDaddy CEO Amanpal Singh Bhutani sold 6,932 shares on Dec. 2 at an average price of $127.94 for proceeds of $886,880, trimming his direct holding to 399,133 shares (a 1.71% decrease).
- GoDaddy slightly beat expectations for the quarter with $1.51 EPS (vs. $1.50 est.) and $1.27B in revenue, a 10.3% year-over-year increase.
- Several analysts have lowered price targets recently, but consensus remains a Moderate Buy with an average target of $181.14 while the stock trades near $130 and the company has about a $17.6B market cap.
GoDaddy Inc. (NYSE:GDDY - Get Free Report) CAO Phontip Palitwanon sold 969 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 $123,973.86. Following the transaction, the chief accounting officer owned 19,452 shares in the company, valued at $2,488,688.88. This represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
GoDaddy Trading Up 1.4%
NYSE:GDDY opened at $130.11 on Thursday. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00. The business has a fifty day moving average price of $131.32 and a 200-day moving average price of $152.21. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.42 and a beta of 0.95. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57.
GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $1.32 earnings per share. GoDaddy's quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts recently issued reports on GDDY shares. Benchmark reduced their target price on shares of GoDaddy from $250.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their price target on shares of GoDaddy from $222.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, October 31st. Wells Fargo & Company reduced their price objective on shares of GoDaddy from $157.00 to $145.00 and set an "equal weight" rating for the company in a research note on Monday, October 6th. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Evercore ISI dropped their target price on shares of GoDaddy from $180.00 to $145.00 and set an "in-line" rating for the company in a report on Friday, October 31st. One equities 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $181.14.
Check Out Our Latest Stock Analysis on GDDY
Hedge Funds Weigh In On GoDaddy
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of GoDaddy during the 2nd quarter valued at about $341,588,000. Goldman Sachs Group Inc. lifted its position in shares of GoDaddy by 257.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock worth $402,946,000 after buying an additional 1,610,890 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in GoDaddy by 47.0% during the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock valued at $483,360,000 after buying an additional 1,128,646 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in GoDaddy by 2,289.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company's stock valued at $157,305,000 after buying an additional 837,065 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock worth $223,183,000 after acquiring an additional 814,360 shares during the last quarter. Institutional investors own 90.28% of the company's stock.
About GoDaddy
(
Get Free Report)
GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.
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