Shares of GoDaddy (GDDY) Sees Large Outflow of Money

GoDaddy (GDDY) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (8.22 million) in GoDaddy (GDDY). On Wednesday, The value of composite uptick trades was $7.77 million, whereas, the value of composite downtick trades was $15.99 million and the ratio between the two was 0.49, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $8.1 million. $1.81 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.22. The negative money flow of ($6.29 million) shows selling on strength. GoDaddy (GDDY) gained $0.74 intraday at $29.73 and registrered 2.55% for the week.


Also, Equity analysts at the Brokerage firm Citigroup downgrades its rating on GoDaddy (NYSE:GDDY). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The Analysts at Citigroup maintains a current price target of $35 per share. The rating by the firm was issued on June 7, 2016.

GoDaddy (NYSE:GDDY): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $29.40 and $29.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.73, notching a gain of 2.55% for the day. The total traded volume was 1,716,284 . The stock had closed at $28.99 on the previous day.

The stock has recorded a 20-day Moving Average of 3% and the 50-Day Moving Average is 5.05%. In a related news,The officer (CFO and COO) of Godaddy Inc., Wagner Scott sold 8,000 shares at $29.88 on July 6, 2016. The Insider selling transaction had a total value worth of $239,040. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

GoDaddy Inc. operates a Web domain marketplace, The Company is a technology provider to small businesses, Web design professionals and individuals, delivering cloud-based products and outcome-driven, personalized Customer Care. The Company operates domain marketplace, where its customers can find that piece of digital real estate that matches their idea. The Company provides Website building, hosting and security tools to help customers construct and protect their online presence and tackle the changing technology landscape. It also provides applications that help them connect to its customers, manage and grow their businesses and get found online. It has designed and developed a set of cloud-based technology products that enable its customers to establish a digital presence, connect with their customers and manage their business operations. The Companys products include domain, hosting and presence, and business applications.

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