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

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, November 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The shares were 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 transaction of $164,160.00.

GoDaddy Trading Up 1.2 %

NYSE GDDY opened at $205.41 on Friday. The company’s fifty day moving average price is $185.09 and its two-hundred day moving average price is $162.57. The company has a market capitalization of $28.84 billion, a price-to-earnings ratio of 15.87 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $99.90 and a 12 month high of $211.11. 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 (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 net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $0.89 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its stake 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 purchasing an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after buying an additional 384,386 shares during the period. Mizuho Securities USA LLC grew its position in shares of GoDaddy by 3,227.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after buying an additional 350,839 shares during the last quarter. FMR LLC raised its stake in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after acquiring an additional 235,934 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on GDDY shares. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Piper Sandler increased their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Benchmark lifted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus 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.