Insider Selling: GoDaddy (NYSE:GDDY) CAO Sells 2,261 Shares of Stock

Key Points

• GoDaddy’s chief accounting officer Phontip Palitwanon sold 2,261 shares for approximately $207,582 at an average price of $91.81, reducing her holdings by 11.31% to 17,734 shares.
• GoDaddy reported quarterly revenue of $1.30 billion and adjusted earnings of $1.83 per share, beating analyst estimates; revenue increased 6.6% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $110.33, while institutional investors own 90.28% of the stock.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) 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 transaction of $207,582.41. Following the sale, the chief accounting officer owned 17,734 shares of the company's stock, valued at $1,628,158.54. The trade was a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 shares were 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 value of $1,069.80.

GoDaddy Stock Performance

GDDY stock traded up $8.65 during midday trading on Thursday, reaching $100.47. The stock had a trading volume of 3,030,474 shares, compared to its average volume of 2,324,317. The firm has a fifty day simple moving average of $87.06 and a two-hundred day simple moving average of $87.76. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $150.47. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $12.73 billion, a PE ratio of 14.91, a P/E/G ratio of 0.81 and a beta of 0.90.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $1.41 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that GoDaddy Inc. will post 7.21 EPS for the current year.

Hedge Funds Weigh In On GoDaddy

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in GoDaddy in the 4th quarter worth about $250,020,000. AQR Capital Management LLC increased its position in shares of GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company's stock valued at $370,991,000 after buying an additional 1,615,005 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock worth $223,183,000 after buying an additional 814,360 shares during the period. Swedbank AB raised its stake in shares of GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company's stock worth $80,125,000 after buying an additional 524,811 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of GoDaddy by 67.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company's stock valued at $155,968,000 after buying an additional 504,374 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on GDDY shares. B. Riley Financial decreased their price objective on shares of GoDaddy from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Citigroup cut their price objective on shares of GoDaddy from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Benchmark reduced their target price on shares of GoDaddy from $185.00 to $140.00 and set a "buy" rating for the company in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft downgraded shares of GoDaddy to a "buy" rating in a research report on Friday, July 31st. Finally, UBS Group began coverage on GoDaddy in a research report on Tuesday, May 5th. They set a "neutral" rating and a $100.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and a consensus price target 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.

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