Phontip Palitwanon Sells 1,310 Shares of GoDaddy (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 1,310 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer owned 20,349 shares of the company’s stock, valued at $1,834,462.35. This trade represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, March 3rd, Phontip Palitwanon sold 766 shares of GoDaddy stock. The stock was sold at an average price of $87.83, for a total value of $67,277.78.

GoDaddy Trading Down 6.6%

Shares of GDDY stock opened at $80.84 on Friday. The company has a market capitalization of $10.78 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.79 and a beta of 0.96. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $193.55. The business’s fifty day moving average is $98.21 and its 200 day moving average is $121.44. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of recent analyst reports. Benchmark lowered their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. Morgan Stanley decreased their price target on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Citigroup lowered their price objective on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Evercore set a $95.00 price objective on shares of GoDaddy in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.57.

Institutional Trading of GoDaddy

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of GoDaddy in the fourth quarter worth about $250,020,000. AQR Capital Management LLC boosted its holdings in GoDaddy by 117.5% during the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after acquiring an additional 1,615,005 shares during the period. Ameriprise Financial Inc. boosted its holdings in GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after acquiring an additional 1,128,646 shares during the period. Qube Research & Technologies Ltd grew its position 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 worth $157,305,000 after acquiring an additional 837,065 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in GoDaddy by 99.7% during 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. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.