Sigal Zarmi Sells 350 Shares of GoDaddy (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total value of $30,744.00. Following the sale, the director owned 5,708 shares in the company, valued at approximately $501,390.72. This trade represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GoDaddy Stock Performance

Shares of GDDY stock opened at $84.87 on Friday. The business’s 50 day simple moving average is $85.64 and its 200 day simple moving average is $99.70. GoDaddy Inc. has a one year low of $73.06 and a one year high of $183.34. The stock has a market capitalization of $11.24 billion, a PE ratio of 13.43, a PEG ratio of 0.76 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business posted $1.51 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GDDY shares. Benchmark reduced their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Citigroup reduced their target price on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Royal Bank Of Canada reduced their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Wells Fargo & Company upped their target price on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $120.57.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its holdings in GoDaddy by 4.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after purchasing an additional 86 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in GoDaddy by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock worth $1,686,000 after purchasing an additional 104 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 119 shares in the last quarter. Lido Advisors LLC lifted its holdings in GoDaddy by 6.2% during the 4th quarter. Lido Advisors LLC now owns 2,083 shares of the technology company’s stock worth $283,000 after purchasing an additional 121 shares in the last quarter. Finally, Martin Capital Advisors LLP lifted its holdings in GoDaddy by 1.5% during the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock worth $1,127,000 after purchasing an additional 130 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

About GoDaddy

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.