GoDaddy (NYSE:GDDY) Shares Up 0.8% – Here’s What Happened

Shares of GoDaddy Inc. (NYSE:GDDY) were up 0.8% on Friday . The stock traded as high as $199.99 and last traded at $199.40. Approximately 208,277 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,457,568 shares. The stock had previously closed at $197.85.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of research reports. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Raymond James upped their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays upped their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Price Performance

The stock has a market cap of $27.74 billion, a PE ratio of 15.41 and a beta of 1.11. The business’s 50-day simple moving average is $170.11 and its 200-day simple moving average is $155.14. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.89 EPS. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,345 shares of company stock worth $3,897,255 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently bought and sold shares of GDDY. Federated Hermes Inc. lifted its holdings in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after buying an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after acquiring an additional 350,839 shares in the last quarter. FMR LLC grew its stake in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after acquiring an additional 235,934 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

About GoDaddy

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.