Insider Selling: GoDaddy (NYSE:GDDY) CAO Sells $207,582.41 in Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 2,261 shares of GoDaddy stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $91.81, for a total value of $207,582.41. Following the completion of the sale, the chief accounting officer directly owned 17,734 shares of the company’s stock, valued at approximately $1,628,158.54. The trade was a 11.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Phontip Palitwanon also recently made the following trade(s):

• On Tuesday, June 2nd, Phontip Palitwanon sold 542 shares of GoDaddy stock. The shares were sold at an average price of $89.86, for a total value of $48,704.12.
• 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 value of $1,069.80.

GoDaddy Trading Down 5.8%

GoDaddy stock opened at $94.65 on Friday. GoDaddy Inc. has a one year low of $71.59 and a one year high of $150.47. The business’s fifty day moving average is $87.57 and its 200 day moving average is $87.79. The stock has a market capitalization of $11.99 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.85 and a beta of 0.90. The company has a debt-to-equity ratio of 561.10, a current ratio of 0.63 and a quick ratio of 0.63.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.14. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.GoDaddy’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 EPS. On average, sell-side analysts predict that GoDaddy Inc. will post 7.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. William Blair downgraded shares of GoDaddy from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Benchmark dropped their target price on shares of GoDaddy from $185.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $95.00 target price (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Raymond James Financial lowered shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 target price for the company. in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $110.33.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rachor Investment Advisory Services LLC purchased a new position in shares of GoDaddy in the fourth quarter worth approximately $25,000. Activest Wealth Management increased its holdings in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. International Assets Investment Management LLC raised its position in GoDaddy by 93.8% in the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after acquiring an additional 180 shares during the period. Harbour Investments Inc. raised its position in GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after acquiring an additional 170 shares during the period. Finally, Acuitas Investments LLC purchased a new position in shares of GoDaddy during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Key Headlines Impacting GoDaddy

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: GoDaddy CFO comments highlighted growth opportunities for the Airo product, higher average revenue per user and the company’s positioning as consumers increasingly use AI to discover businesses online. The discussion may support the investment case for expanding revenue beyond traditional domain registration. Exclusive: GoDaddy CFO on Airo, ARPU growth and the shift to AI discovery

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.