GoDaddy (NYSE:GDDY) CAO Phontip Palitwanon Sells 542 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the transaction, the chief accounting officer owned 19,995 shares of the company’s stock, valued at $1,796,750.70. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value 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 value of $118,096.50.

GoDaddy Price Performance

GDDY stock opened at $84.87 on Friday. The company has a market capitalization of $11.24 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $183.34. The business has a 50-day simple moving average of $85.64 and a two-hundred day simple moving average of $99.70.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 EPS. Research analysts expect that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Hedge Funds Weigh In On GoDaddy

Large investors have recently made changes to their positions in the stock. Coldstream Capital Management Inc. lifted its position in GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock valued at $258,000 after acquiring an additional 86 shares during the last quarter. Clearstead Advisors LLC lifted its position in GoDaddy by 0.9% during the third quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock valued at $1,686,000 after acquiring an additional 104 shares during the last quarter. Main Street Financial Solutions LLC lifted its position in GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after acquiring an additional 119 shares during the last quarter. Lido Advisors LLC lifted its position in GoDaddy by 6.2% during the fourth quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock valued at $283,000 after acquiring an additional 121 shares during the last quarter. Finally, Martin Capital Advisors LLP lifted its position in GoDaddy by 1.5% during the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock valued at $1,127,000 after acquiring an additional 130 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GDDY. Barclays cut their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Piper Sandler began coverage on GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. Benchmark cut their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Jefferies Financial Group cut their target price on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

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.