GoDaddy (NYSE:GDDY) Reaches New 52-Week Low – Should You Sell?

GoDaddy Inc. (NYSE:GDDY) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $96.58 and last traded at $97.3250, with a volume of 69775 shares. The stock had previously closed at $100.16.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GDDY. Jefferies Financial Group decreased their target price on GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Royal Bank Of Canada set a $70.00 price objective on GoDaddy in a research report on Wednesday, January 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Finally, B. Riley decreased their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.21.

GoDaddy Trading Down 6.4%

The stock’s fifty day moving average price is $118.57 and its 200 day moving average price is $133.54. The stock has a market cap of $12.67 billion, a P/E ratio of 16.22, a PEG ratio of 0.91 and a beta of 0.94. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. This represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $424,376.98. Following the sale, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. The trade was a 4.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,615 shares of company stock valued at $1,743,102. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hemington Wealth Management boosted its holdings in shares of 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 acquiring an additional 85 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GoDaddy in the fourth quarter worth approximately $25,000. Rachor Investment Advisory Services LLC bought a new stake in GoDaddy in the 4th quarter worth approximately $25,000. Activest Wealth Management lifted 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 valued at $25,000 after buying an additional 198 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in shares of GoDaddy in the second quarter worth $26,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Company Profile

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.