GoDaddy (NYSE:GDDY) Stock Price Down 5.3% - Time to Sell?

Key Points

• GoDaddy shares fell 5.3% to roughly $99 during mid-day trading, while trading volume remained below its average.
• Analyst sentiment is mixed but leans neutral: nine analysts rate the stock a Buy, eight a Hold, and one a Sell, producing a consensus “Hold” rating with an average price target of $110.07.
• GoDaddy exceeded quarterly expectations, reporting $1.83 in EPS versus $1.69 expected and $1.30 billion in revenue, up 6.6% year over year; however, insiders have continued selling shares, mostly through pre-arranged or tax-related transactions.

Shares of GoDaddy Inc. (NYSE:GDDY - Get Free Report) traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $98.97 and last traded at $99.1960. 1,853,111 shares were traded during trading, a decline of 18% from the average daily volume of 2,265,449 shares. The stock had previously closed at $104.77.

More GoDaddy News

Here are the key news stories impacting GoDaddy this week:

• Neutral Sentiment: Analysts have a consensus “Hold” recommendation on GoDaddy, suggesting limited conviction that the recent developments justify either an aggressive buy or sell stance. GoDaddy receives consensus Hold recommendation

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GDDY shares. JPMorgan Chase & Co. lowered their price objective on GoDaddy from $154.00 to $124.00 and set an "overweight" rating for the company in a research report on Thursday, June 18th. Benchmark decreased their price target on GoDaddy from $185.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Piper Sandler reissued a "neutral" rating and issued a $95.00 price target (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. Citigroup dropped their price target on GoDaddy from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Finally, B. Riley Financial cut their price objective on shares of GoDaddy from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $110.07.

GoDaddy Stock Performance

The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 0.87 and a beta of 0.94. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 561.10. The firm has a 50-day moving average of $96.03 and a 200-day moving average of $88.73.

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

Insider Transactions at GoDaddy

In related news, Director Leah Sweet sold 325 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.44, for a total value of $31,668.00. Following the transaction, the director owned 13,689 shares in the company, valued at approximately $1,333,856.16. This represents a 2.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Bhutani sold 8,194 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $101.19, for a total transaction of $829,150.86. Following the completion of the transaction, the chief executive officer owned 504,553 shares in the company, valued at approximately $51,055,718.07. This trade represents a 1.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 26,858 shares of company stock valued at $2,593,081 over the last quarter. Company insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its holdings in GoDaddy by 23.5% in the second quarter. Tidal Investments LLC now owns 38,583 shares of the technology company's stock valued at $3,275,000 after purchasing an additional 7,353 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of GoDaddy by 5.7% during the 2nd quarter. WINTON GROUP Ltd now owns 6,745 shares of the technology company's stock valued at $573,000 after buying an additional 361 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of GoDaddy in the 2nd quarter valued at about $216,000. Integrated Wealth Concepts LLC acquired a new position in shares of GoDaddy in the 2nd quarter valued at about $441,000. Finally, NewEdge Advisors LLC boosted its stake in shares of GoDaddy by 287.4% in the second quarter. NewEdge Advisors LLC now owns 17,130 shares of the technology company's stock worth $1,454,000 after buying an additional 12,708 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Company Profile

GoDaddy Inc NYSE: GDDY is a technology company that provides online tools and services for entrepreneurs, small businesses and individuals. Its offerings are designed to help customers establish, manage and grow an online presence, including domain-name registration, domain search and management, website hosting, professional email and online security services.

The company also provides website-building and commerce solutions that support online stores, appointment scheduling, digital marketing, search-engine optimization, social media management and payment acceptance.

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