GoDaddy Inc. (NYSE:GDDY) COO Sells $207,350.00 in Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at $38,283,445.20. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, November 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00.
• On Tuesday, October 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was sold at an average price of $164.16, for a total value of $164,160.00.

GoDaddy Stock Performance

NYSE:GDDY traded down $7.33 during trading hours on Wednesday, hitting $200.13. 1,292,481 shares of the company were exchanged, compared to its average volume of 1,455,420. The stock has a market capitalization of $28.10 billion, a price-to-earnings ratio of 15.47 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 52-week low of $99.90 and a 52-week high of $211.11. The company’s 50 day moving average price is $182.65 and its 200-day moving average price is $161.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently modified their holdings of GDDY. Franklin Resources Inc. boosted its holdings in shares of GoDaddy by 10.2% in the third quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock valued at $68,565,000 after acquiring an additional 38,511 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of GoDaddy by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock worth $2,923,000 after acquiring an additional 5,205 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in GoDaddy during the third quarter valued at about $922,000. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter valued at approximately $31,000. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in GoDaddy by 86.8% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock worth $2,340,000 after acquiring an additional 6,974 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GDDY. Robert W. Baird increased their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Jefferies Financial Group increased their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.57.

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.