GoDaddy (NYSE:GDDY) Sets New 52-Week Low – Here’s What Happened

GoDaddy Inc. (NYSE:GDDY)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $108.63 and last traded at $109.2870, with a volume of 1499100 shares. The stock had previously closed at $112.24.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GDDY. UBS Group cut their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. B. Riley lowered their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Citigroup dropped their price target on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Benchmark restated a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. Finally, Wells Fargo & Company decreased their price objective on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $167.21.

GoDaddy Trading Down 2.6%

The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.95. The business has a fifty day moving average price of $125.59 and a 200 day moving average price of $140.42. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57.

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

Insider Activity at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the sale, the director owned 19,957 shares in the company, valued at approximately $2,656,476.27. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the transaction, the chief executive officer owned 399,133 shares in the company, valued at $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,115 shares of company stock valued at $1,809,657. Company insiders own 0.70% of the company’s stock.

Institutional Trading of GoDaddy

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of GoDaddy in the second quarter valued at $341,588,000. Ameriprise Financial Inc. raised its stake in shares of GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after buying an additional 1,128,646 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of GoDaddy by 2,289.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock valued at $157,305,000 after buying an additional 837,065 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after acquiring an additional 814,360 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of GoDaddy by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock valued at $3,378,310,000 after acquiring an additional 627,923 shares in the last quarter. 90.28% of the stock is currently 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.