Insider Selling: GoDaddy Inc. (NYSE:GDDY) COO Sells 1,000 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Roger Chen also recently made the following trade(s):

• On Thursday, August 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $146.48, for a total value of $585,920.00.
• On Monday, July 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The stock was sold at an average price of $139.79, for a total value of $559,160.00.

GoDaddy Price Performance

Shares of GDDY stock opened at $160.48 on Friday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The firm has a market cap of $22.90 billion, a P/E ratio of 13.33 and a beta of 1.13. The business’s 50 day moving average price is $154.36 and its 200-day moving average price is $138.69.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.63 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy Inc. will post 5.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of research reports. Cantor Fitzgerald assumed coverage on GoDaddy in a report on Thursday, September 5th. They set a “neutral” rating and a $170.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Finally, Raymond James lifted 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. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.08.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of GDDY. Vanguard Group Inc. boosted its position in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after acquiring an additional 379,228 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Norges Bank bought a new position in GoDaddy in the fourth quarter worth $181,687,000. Federated Hermes Inc. lifted its position in 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 buying an additional 394,399 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of GoDaddy by 13.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock valued at $96,166,000 after buying an additional 110,076 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

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.