GoDaddy (NYSE:GDDY) Trading Down 6.9% – Time to Sell?

GoDaddy Inc. (NYSE:GDDY ) dropped 6.9% during mid-day trading on Tuesday . The company traded as low as $93.80 and last traded at $94.3180. Approximately 556,038 shares traded hands during trading, a decline of 75% from the average daily volume of 2,254,857 shares. The stock had previously closed at $101.31. GDDY has been the topic of several recent analyst reports. B. Riley Financial decreased their price target on GoDaddy from $190.00 to $170.00 and set a 'buy' rating on the stock in a research note on Friday, July 31st. Citigroup decreased their target price on shares of GoDaddy from $110.00 to $105.00 and set a 'buy' rating on the stock in a research report on Monday, August 3rd. Cantor Fitzgerald reiterated a 'neutral' rating and set a $90.00 price target on shares of GoDaddy in a research report on Friday, July 31st. Raymond James Financial downgraded shares of GoDaddy from a 'strong-buy' rating to an 'outperform' rating and set a $100.00 price target on the stock. in a research note on Friday, July 31st. Finally, Benchmark decreased their price objective on shares of GoDaddy from $185.00 to $140.00 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 issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of 'Hold' and a consensus target price of $110.07. Get Our Latest Stock Analysis on GDDY GoDaddy (NYSE:GDDY ) last posted its earnings results on Thursday, July 30th. The technology company reported $1.83 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm posted $1.41 EPS. The company's revenue was up 6.6% on a year-over-year basis. Analysts forecast that GoDaddy Inc. will post 7.21 EPS for the current year. In other news, Director Sigal Zarmi sold 350 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.44, for a total transaction of $34,104.00. Following the completion of the sale, the director owned 8,283 shares in the company, valued at $807,095.52. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 firm's stock in a transaction 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 sale, the chief executive officer owned 504,553 shares of the company's stock, valued at $51,055,718.07. This trade represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 a total of 26,858 shares of company stock worth $2,593,081 over the last three months. 0.93% of the stock is currently owned by company insiders. A number of hedge funds have recently made changes to their positions in GDDY. Coldstream Capital Management Inc. raised its position in GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company's stock worth $258,000 after acquiring an additional 86 shares during the last quarter. Main Street Financial Solutions LLC grew its position in shares of GoDaddy by 1.0% in the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock valued at $2,185,000 after purchasing an additional 119 shares during the last quarter. Lido Advisors LLC increased its stake in shares of 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. Vontobel Holding Ltd. increased its stake in shares of GoDaddy by 2.0% during the 4th quarter. Vontobel Holding Ltd. now owns 6,859 shares of the technology company's stock worth $851,000 after purchasing an additional 134 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of GoDaddy by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,318 shares of the technology company's stock worth $357,000 after purchasing an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock. 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.