Roger Chen Sells 1,000 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $164,160.00.
• On Monday, September 16th, Roger Chen sold 1,000 shares of GoDaddy stock. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00.

GoDaddy Trading Up 1.4 %

Shares of GDDY stock opened at $190.11 on Thursday. The firm has a fifty day moving average of $164.16 and a 200-day moving average of $152.29. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 14.69 and a beta of 1.11. GoDaddy Inc. has a 52-week low of $92.45 and a 52-week high of $190.54. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, equities research analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Benchmark boosted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird increased their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Raymond James increased their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

Hedge Funds Weigh In On GoDaddy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of GoDaddy in the 3rd quarter worth about $1,132,000. Plato Investment Management Ltd increased its position in shares of GoDaddy by 2,471.0% during the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in GoDaddy by 20.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after purchasing an additional 35,703 shares during the last quarter. Finally, Swedbank AB boosted its position in GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after buying an additional 5,247 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

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.