GoDaddy (NYSE:GDDY) Reaches New 1-Year Low – Should You Sell?

GoDaddy Inc. (NYSE:GDDY)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $87.13 and last traded at $88.0490, with a volume of 270491 shares traded. The stock had previously closed at $89.12.

Analysts Set New Price Targets

GDDY has been the subject of several research reports. Raymond James Financial reissued a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. JPMorgan Chase & Co. decreased their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Citigroup dropped their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group lowered their price target on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.21.

GoDaddy Trading Down 2.1%

The company has a market capitalization of $11.98 billion, a P/E ratio of 16.14, a PEG ratio of 0.82 and a beta of 0.94. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50-day moving average price is $109.44 and its two-hundred day moving average price is $127.42.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the transaction, the chief accounting officer directly owned 17,055 shares in the company, valued at approximately $2,190,544.20. The trade was a 12.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the sale, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,615 shares of company stock worth $1,743,102 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of GoDaddy by 0.8% in the third 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. Geode Capital Management LLC increased its stake in GoDaddy by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,779,220 shares of the technology company’s stock valued at $677,726,000 after buying an additional 81,623 shares during the last quarter. WCM Investment Management LLC increased its stake in GoDaddy by 1.8% in the 3rd quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company’s stock valued at $529,395,000 after buying an additional 66,144 shares during the last quarter. Ameriprise Financial Inc. lifted 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 buying an additional 1,128,646 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of 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 buying an additional 319,515 shares during the last quarter. 90.28% of the stock is owned by 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.