Insider Selling: GoDaddy (NYSE:GDDY) CAO Sells 542 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 542 shares of the stock in a transaction on 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 owned 19,995 shares of the company’s stock, valued at $1,796,750.70. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 Trading Up 1.1%

Shares of GDDY traded up $0.89 during midday trading on Thursday, hitting $84.87. The stock had a trading volume of 3,525,584 shares, compared to its average volume of 2,325,239. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $183.34. The firm has a market cap of $11.24 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.90. 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 stock’s 50 day moving average is $85.54 and its 200 day moving average is $100.02.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts forecast that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Barclays reduced their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Royal Bank Of Canada reduced their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company raised their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $120.57.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GDDY. Sivia Capital Partners LLC increased its stake in GoDaddy by 90.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after buying an additional 1,552 shares during the period. Cerity Partners LLC increased its stake in GoDaddy by 50.0% in the 2nd quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after buying an additional 9,062 shares during the period. Treasurer of the State of North Carolina increased its stake in GoDaddy by 83.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock worth $28,016,000 after buying an additional 70,585 shares during the period. Osterweis Capital Management Inc. purchased a new position in GoDaddy in the 2nd quarter worth about $152,000. Finally, Main Street Financial Solutions LLC increased its position in GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.