GoDaddy (NYSE:GDDY) Reaches New 1-Year Low – Time to Sell?

GoDaddy Inc. (NYSE:GDDY) hit a new 52-week low on Friday . The stock traded as low as $121.30 and last traded at $120.5570, with a volume of 118133 shares changing hands. The stock had previously closed at $124.08.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GDDY shares. B. Riley reduced their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Morgan Stanley set a $159.00 price objective on GoDaddy in a report on Friday, October 31st. Wells Fargo & Company lowered their target price on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. UBS Group dropped their price target on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of GoDaddy in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.14.

GoDaddy Trading Down 3.1%

The company has a market cap of $16.25 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.38 and a beta of 0.95. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The business’s 50 day moving average price is $128.09 and its 200-day moving average price is $144.37.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The firm 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 was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 EPS. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the completion of the sale, the chief executive officer owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 3,317 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 transaction of $424,376.98. Following the completion of the sale, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. The trade was a 4.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,115 shares of company stock worth $1,809,657 in the last ninety days. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in GoDaddy by 20.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock valued at $17,888,000 after acquiring an additional 17,200 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after purchasing an additional 10,631 shares during the last quarter. GDS Wealth Management boosted its holdings in shares of GoDaddy by 16.3% in the 2nd quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock valued at $10,793,000 after purchasing an additional 8,388 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of GoDaddy in the 2nd quarter valued at $15,659,000. Finally, Neo Ivy Capital Management bought a new position in shares of GoDaddy in the 2nd quarter valued at $470,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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.