GoDaddy Inc. (NYSE:GDDY – Get Free Report) shares fell 7.3% during trading on Friday after Barclays lowered their price target on the stock from $98.00 to $95.00. Barclays currently has an overweight rating on the stock. GoDaddy traded as low as $69.72 and last traded at $70.21. 206,396 shares changed hands during trading, a decline of 82% from the average session volume of 1,137,636 shares. The stock had previously closed at $75.72.
Several other equities analysts have also issued reports on GDDY. Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of GoDaddy in a report on Tuesday. Robert W. Baird assumed coverage on GoDaddy in a research note on Tuesday, April 11th. They issued an “outperform” rating and a $95.00 price objective for the company. StockNews.com began coverage on shares of GoDaddy in a research report on Thursday, May 18th. They set a “buy” rating on the stock. B. Riley began coverage on shares of GoDaddy in a research note on Wednesday, June 28th. They set a “buy” rating and a $102.00 price target for the company. Finally, Royal Bank of Canada assumed coverage on GoDaddy in a research report on Monday, June 5th. They set a “sector perform” rating and a $80.00 price objective for the company. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.08.
Insider Buying and Selling at GoDaddy
In other GoDaddy news, CFO Mark Mccaffrey sold 812 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.37, for a total value of $61,200.44. Following the transaction, the chief financial officer now directly owns 92,609 shares in the company, valued at approximately $6,979,940.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Mark Mccaffrey sold 812 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $75.37, for a total transaction of $61,200.44. Following the sale, the chief financial officer now owns 92,609 shares in the company, valued at $6,979,940.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,117 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.37, for a total value of $234,928.29. Following the completion of the transaction, the chief executive officer now owns 275,141 shares of the company’s stock, valued at $20,737,377.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,219 shares of company stock worth $1,068,326. 0.54% of the stock is owned by insiders.
Institutional Investors Weigh In On GoDaddy
Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Vanguard Group Inc. boosted its position in GoDaddy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock worth $1,356,131,000 after purchasing an additional 107,949 shares during the period. Starboard Value LP boosted its position in shares of GoDaddy by 23.9% in the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after buying an additional 1,973,118 shares during the period. BlackRock Inc. grew its stake in shares of GoDaddy by 2.0% in the first quarter. BlackRock Inc. now owns 8,512,278 shares of the technology company’s stock valued at $661,574,000 after buying an additional 163,174 shares in the last quarter. Morgan Stanley raised its holdings in shares of GoDaddy by 517.4% during the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after buying an additional 5,133,332 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in GoDaddy by 1.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,934,195 shares of the technology company’s stock worth $383,486,000 after acquiring an additional 85,212 shares in the last quarter. 93.73% of the stock is currently owned by institutional investors and hedge funds.
GoDaddy Stock Performance
The stock has a fifty day simple moving average of $74.66 and a two-hundred day simple moving average of $75.66. The stock has a market cap of $10.77 billion, a PE ratio of 33.73 and a beta of 0.96.
GoDaddy (NYSE:GDDY – Get Free Report) last announced its earnings results on Thursday, May 4th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.22). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. GoDaddy had a net margin of 8.03% and a negative return on equity of 95.00%. GoDaddy’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. On average, equities analysts predict that GoDaddy Inc. will post 2.4 EPS for the current fiscal year.
GoDaddy Company Profile
GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.