Insider Selling: GoDaddy (NYSE:GDDY) CAO Sells 766 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 766 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $87.83, for a total transaction of $67,277.78. Following the completion of the transaction, the chief accounting officer directly owned 21,659 shares of the company’s stock, valued at approximately $1,902,309.97. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, December 10th, Phontip Palitwanon sold 2,397 shares of GoDaddy stock. The stock was sold at an average price of $128.44, for a total transaction of $307,870.68.

GoDaddy Stock Up 5.2%

NYSE GDDY traded up $4.60 during trading on Thursday, reaching $93.26. 3,056,956 shares of the company’s stock traded hands, compared to its average volume of 2,737,863. The company’s 50 day simple moving average is $101.89 and its two-hundred day simple moving average is $123.42. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $193.55. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. GoDaddy’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently bought and sold shares of GDDY. Vanguard Group Inc. increased its position in GoDaddy by 0.8% during the third quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock worth $2,587,754,000 after buying an additional 150,045 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GoDaddy by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,779,220 shares of the technology company’s stock valued at $677,726,000 after acquiring an additional 81,623 shares during the last quarter. WCM Investment Management LLC lifted its holdings in shares of GoDaddy by 1.8% during the 3rd quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company’s stock worth $529,395,000 after acquiring an additional 66,144 shares during the period. Ameriprise Financial Inc. boosted its position in shares of GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after acquiring an additional 1,128,646 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of GoDaddy by 11.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock valued at $399,089,000 after purchasing an additional 319,515 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy News Summary

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: GoDaddy reported a February-quarter earnings beat (EPS above consensus) and year-over-year revenue growth, reinforcing the company’s fundamentals and likely supporting buying interest.
• Neutral Sentiment: Coverage pieces continue to feature GoDaddy among growth-stock discussions, keeping the name on investors’ radars but not delivering a clear directional catalyst. 2 Top Growth Stocks to Buy, And 1 to Sell Right Away
• Negative Sentiment: Evercore ISI trimmed its price target to $95 and kept an In Line rating, which signals more muted upside from some sell-side desks and may cap near-term gains. Evercore ISI Lowers its Price Target on GoDaddy Inc. (GDDY) to $95 and Maintains an In Line Rating
• Negative Sentiment: Multiple insiders sold stock this week — including CEO Amanpal Singh Bhutani, CFO Mark McCaffrey, the CAO and a director — representing meaningful reductions in holdings (largest single sale: CEO sold 34,148 shares). Heavy insider selling can pressure sentiment and raise questions about near-term insider conviction. SEC filings and disclosures: CEO Form 4 CFO Form 4 CAO Form 4 Insider Trades Alert

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GDDY. Barclays reduced their price objective on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Evercore set a $95.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Jefferies Financial Group reduced their target price on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. One investment 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’s stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $131.93.

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.