Phontip Palitwanon Sells 2,261 Shares of GoDaddy (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 2,261 shares of GoDaddy stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $91.81, for a total transaction of $207,582.41. Following the completion of the sale, the chief accounting officer owned 17,734 shares in the company, valued at approximately $1,628,158.54. This trade represents a 11.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

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

GoDaddy Price Performance

GDDY stock traded up $8.65 during trading on Thursday, hitting $100.47. The stock had a trading volume of 3,030,474 shares, compared to its average volume of 2,324,317. 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 Inc. has a twelve month low of $71.59 and a twelve month high of $150.47. The stock has a market capitalization of $12.73 billion, a P/E ratio of 14.91, a PEG ratio of 0.81 and a beta of 0.90. The company’s 50-day moving average price is $87.06 and its two-hundred day moving average price is $87.76.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, July 30th. The technology company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.14. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that GoDaddy Inc. will post 7.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Globeflex Capital L P acquired a new position in shares of GoDaddy in the second quarter valued at approximately $331,000. Plato Investment Management Ltd acquired a new stake in shares of GoDaddy in the 2nd quarter valued at $1,693,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in GoDaddy during the 2nd quarter worth about $28,938,000. Trust Asset Management LLC purchased a new stake in GoDaddy during the second quarter worth approximately $127,000. Finally, Tema ETFs LLC lifted its position in shares of GoDaddy by 22.6% during the 2nd quarter. Tema ETFs LLC now owns 2,585 shares of the technology company’s stock worth $219,000 after buying an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wedbush reduced their price objective on GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $90.00 target price on shares of GoDaddy in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of GoDaddy to a “buy” rating in a report on Friday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Finally, Wells Fargo & Company lowered their price target on shares of GoDaddy from $83.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.33.

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.