GoDaddy (NYSE:GDDY) Sets New 12-Month Low – Time to Sell?

GoDaddy Inc. (NYSE:GDDY) reached a new 52-week low during trading on Tuesday . The stock traded as low as $102.14 and last traded at $102.4690, with a volume of 191473 shares trading hands. The stock had previously closed at $106.02.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent analyst reports. Benchmark restated a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. UBS Group reduced their price target on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Wells Fargo & Company reduced their price objective on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Finally, Evercore ISI cut their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.21.

GoDaddy Trading Down 2.1%

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 is $120.95 and its 200 day moving average is $135.90. The firm has a market capitalization of $14.03 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the transaction, the chief executive officer owned 399,133 shares in the company, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,115 shares of company stock valued at $1,809,657 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Hemington Wealth Management grew its position in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $25,000. Bayforest Capital Ltd bought a new position in shares of GoDaddy in the second quarter valued at approximately $26,000. NewSquare Capital LLC increased its position in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in GoDaddy in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.