GoDaddy (NYSE:GDDY) Sets New 52-Week Low - Time to Sell?

Key Points

• GoDaddy Inc. reached a new 52-week low, trading at $146.81, down from a previous close of $154.82, with over two million shares changing hands.
• Analyst ratings for GoDaddy vary, with seven holding a buy rating and seven holding a hold rating, amidst a consensus target price of $214.86.
• CEO Amanpal Singh Bhutani recently sold 6,000 shares of GoDaddy, indicating a 1.41% decrease in his ownership of the stock.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $146.81 and last traded at $147.88, with a volume of 2066341 shares trading hands. The stock had previously closed at $154.82.

Analyst Ratings Changes

A number of brokerages recently commented on GDDY. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Benchmark reissued a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Citigroup reduced their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 target price on shares of GoDaddy in a report on Monday, June 23rd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Stock Performance

The firm has a market capitalization of $21.42 billion, a PE ratio of 28.91 and a beta of 1.08. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The company's fifty day moving average price is $173.01 and its two-hundred day moving average price is $180.68.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. As a group, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $159.46, for a total value of $956,760.00. Following the completion of the sale, the chief executive officer owned 419,015 shares of the company's stock, valued at $66,816,131.90. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $160.47, for a total transaction of $80,235.00. Following the sale, the director directly owned 21,457 shares of the company's stock, valued at $3,443,204.79. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,257 shares of company stock valued at $5,827,280 over the last three months. Company insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

Hedge funds have recently made changes to their positions in the stock. Advisors Capital Management LLC raised its position in GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after acquiring an additional 55 shares in the last quarter. BNP Paribas boosted its holdings in shares of GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after buying an additional 59 shares during the period. City Holding Co. boosted its holdings in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after buying an additional 60 shares during the period. Equitable Trust Co. boosted its holdings in shares of GoDaddy by 1.0% in the first quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after buying an additional 64 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

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 website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.

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