Key Points
- Director Leah Sweet sold 650 shares on March 2 at an average price of $86.86 for $56,459, leaving her with 11,414 shares (a 5.39% reduction in her position).
- GoDaddy beat quarterly expectations, reporting $1.80 EPS versus $1.58 expected and $1.27 billion in revenue (up 6.8% year-over-year) with a 17.67% net margin and very high reported ROE.
- Analysts have trimmed price targets (examples: Citigroup $195→$110, RBC $200→$100, Wells Fargo $145→$77) but the consensus remains a "Moderate Buy" with an average target of $131.93 while the stock trades around $91 and sports a P/E of 14.64 and $12.33B market cap.
GoDaddy Inc. (NYSE:GDDY - Get Free Report) Director Leah Sweet sold 650 shares of the firm'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 transaction of $56,459.00. Following the completion of the sale, the director owned 11,414 shares in the company, valued at $991,420.04. This represents a 5.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
GoDaddy Stock Performance
GDDY traded up $2.55 during mid-day trading on Thursday, reaching $91.21. 1,345,315 shares of the company traded hands, compared to its average volume of 2,184,401. The company's fifty day moving average price is $102.57 and its 200-day moving average price is $123.63. The stock has a market capitalization of $12.33 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.82 and a beta of 0.96. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $193.55.
GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.58 by $0.22. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.GoDaddy's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.
Hedge Funds Weigh In On GoDaddy
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewSquare Capital LLC lifted its stake in 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. Hemington Wealth Management grew its holdings in GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company's stock valued at $25,000 after buying an additional 85 shares in the last quarter. Rachor Investment Advisory Services LLC bought a new stake in GoDaddy in the 4th quarter worth approximately $25,000. Activest Wealth Management raised its holdings 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 acquiring an additional 198 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy in the fourth quarter valued at $25,000. Institutional investors own 90.28% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on GDDY shares. Citigroup dropped their price objective on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Royal Bank Of Canada reduced their price objective on GoDaddy from $200.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Benchmark cut their price target on GoDaddy from $240.00 to $210.00 and set a "buy" rating for the company in a report on Monday, February 23rd. Evercore set a $95.00 price objective on GoDaddy in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company reduced their target price on shares of GoDaddy from $145.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.93.
Check Out Our Latest Stock Analysis on GDDY
About GoDaddy
(
Get Free Report)
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.
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