Insider Selling: GoDaddy Inc. (NYSE:GDDY) CFO Sells 2,678 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 2,678 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $526,601.92. Following the sale, the chief financial officer now directly owns 89,800 shares of the company’s stock, valued at $17,658,272. This represents a 2.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Mark Mccaffrey also recently made the following trade(s):

• On Tuesday, October 1st, Mark Mccaffrey sold 5,500 shares of GoDaddy stock. The stock was sold at an average price of $155.60, for a total value of $855,800.00.

GoDaddy Trading Up 4.9 %

Shares of NYSE GDDY traded up $9.79 during mid-day trading on Wednesday, reaching $208.15. 2,133,594 shares of the company’s stock were exchanged, compared to its average volume of 1,466,588. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 16.09 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $99.90 and a 52-week high of $208.71. The company’s 50-day moving average is $172.44 and its 200-day moving average is $156.76. 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 announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the business earned $0.89 earnings per share. Analysts expect that GoDaddy Inc. will post 4.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of GoDaddy by 35.6% in the 2nd 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. Wedge Capital Management L L P NC grew its position in 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 acquiring an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC increased its stake in GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after purchasing an additional 350,839 shares during the period. FMR LLC lifted its position in shares of 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 purchasing an additional 274,014 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on GDDY shares. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday. Benchmark increased their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.38.

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.