Key Points
- GoDaddy CEO Amanpal Singh Bhutani sold 8,373 shares on June 2 for about $752,398 at an average price of $89.86, cutting his ownership by 1.58%. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
- The stock was trading higher in the session, opening at $84.87 and up 1.1%, while still trading well below its 200-day moving average of $99.70. GoDaddy’s market cap was about $11.24 billion, with a 52-week range of $73.06 to $183.34.
- Recent operating results beat expectations, as GoDaddy reported quarterly EPS of $1.60 versus the $1.53 consensus and revenue of $1.27 billion, up 6.1% year over year. Analysts currently rate the stock a Moderate Buy with a consensus target price of $120.57.
GoDaddy Inc. (NYSE:GDDY - Get Free Report) CAO Phontip Palitwanon sold 542 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the sale, the chief accounting officer directly owned 19,995 shares of the company's stock, valued at $1,796,750.70. The trade was a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,069.80.
- On Tuesday, March 10th, Phontip Palitwanon sold 1,310 shares of GoDaddy stock. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50.
GoDaddy Trading Up 1.1%
NYSE:GDDY opened at $84.87 on Friday. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $183.34. The firm has a 50 day moving average of $85.64 and a 200 day moving average of $99.70. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.76 and a beta of 0.90.
GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.51 earnings per share. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on GDDY. Citigroup decreased their price target on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Barclays decreased their price target on shares of GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, February 26th. Jefferies Financial Group decreased their price target on shares of GoDaddy from $140.00 to $100.00 and set a "hold" rating for the company in a report on Monday, February 23rd. UBS Group began coverage on shares of GoDaddy in a report on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 price target for the company. Finally, Cantor Fitzgerald decreased their price target on shares of GoDaddy from $130.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and an average target price of $120.57.
Read Our Latest Research Report on GoDaddy
Institutional Trading of GoDaddy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rachor Investment Advisory Services LLC acquired a new stake in GoDaddy during the fourth quarter valued at $25,000. Activest Wealth Management grew its position in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company's stock valued at $25,000 after buying an additional 198 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in GoDaddy during the fourth quarter valued at $25,000. Brown Brothers Harriman & Co. grew its position in GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company's stock valued at $35,000 after buying an additional 150 shares during the period. Finally, Harbour Investments Inc. grew its position in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company's stock valued at $32,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
