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

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the transaction, the chief accounting officer directly owned 19,995 shares in the company, valued at $1,796,750.70. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 Stock Up 1.1%

NYSE GDDY traded up $0.89 during trading on Thursday, reaching $84.87. 3,525,584 shares of the company’s stock traded hands, compared to its average volume of 2,325,239. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.90. The company’s 50 day simple moving average is $85.54 and its two-hundred day simple moving average is $100.02. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $183.34.

GoDaddy (NYSE:GDDY) 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 business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 EPS. As a group, sell-side analysts forecast that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GDDY. Piper Sandler began coverage on shares of GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price target on the stock. Jefferies Financial Group lowered their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Benchmark lowered their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Cantor Fitzgerald lowered their price target on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, Citigroup lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.57.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in GoDaddy by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock worth $2,587,754,000 after purchasing an additional 150,045 shares in the last quarter. Ameriprise Financial Inc. grew its position in GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after purchasing an additional 1,128,646 shares during the last quarter. WCM Investment Management LLC grew its position in GoDaddy by 1.0% during the 1st quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock worth $270,924,000 after purchasing an additional 33,509 shares during the last quarter. JPMorgan Chase & Co. grew its position in GoDaddy by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock worth $399,089,000 after purchasing an additional 319,515 shares during the last quarter. Finally, AQR Capital Management LLC grew its position 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 worth $370,991,000 after purchasing an additional 1,615,005 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.