GoDaddy (NYSE:GDDY) Sets New 1-Year Low – Here’s What Happened

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

Wall Street Analyst Weigh In

GDDY has been the subject of a number of research reports. UBS Group decreased their target price on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Cantor Fitzgerald reduced their price target on GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. lowered their price objective on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.21.

GoDaddy Stock Up 2.1%

The company has a market cap of $12.30 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.81 and a beta of 0.94. The business has a fifty day moving average of $111.64 and a two-hundred day moving average of $128.41. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the sale, the chief financial officer owned 66,816 shares in the company, valued at $8,548,439.04. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,615 shares of company stock valued at $1,743,102 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of GoDaddy

Large investors have recently made changes to their positions in the company. NewSquare Capital LLC lifted its holdings in GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares in the last quarter. Rachor Investment Advisory Services LLC purchased a new position in shares of GoDaddy in the fourth quarter worth about $25,000. Activest Wealth Management boosted its position in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after acquiring an additional 198 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GoDaddy during the 4th quarter valued at about $25,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.