Brian Sharples Sells 500 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the sale, the director now directly owns 22,121 shares of the company’s stock, valued at $3,996,379.86. This represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Brian Sharples also recently made the following trade(s):

• On Monday, February 3rd, Brian Sharples sold 500 shares of GoDaddy stock. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00.
• On Thursday, January 2nd, Brian Sharples sold 500 shares of GoDaddy stock. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00.

GoDaddy Stock Performance

GoDaddy stock opened at $176.29 on Thursday. The business has a 50 day moving average of $196.74 and a 200-day moving average of $182.11. GoDaddy Inc. has a 1 year low of $109.16 and a 1 year high of $216.00. The company has a market capitalization of $24.92 billion, a P/E ratio of 27.33 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. On average, equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Institutional Investors Weigh In On GoDaddy

Institutional investors and hedge funds have recently bought and sold shares of the stock. WCM Investment Management LLC grew its stake in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares during the period. Norges Bank purchased a new position in shares of GoDaddy during the 4th quarter valued at about $356,038,000. Canada Pension Plan Investment Board raised its holdings in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock valued at $273,582,000 after buying an additional 719,000 shares in the last quarter. Congress Asset Management Co. purchased a new position in GoDaddy in the 4th quarter worth approximately $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in GoDaddy by 88.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock worth $213,630,000 after purchasing an additional 507,374 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GDDY. Piper Sandler raised their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Jefferies Financial Group lifted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Wells Fargo & Company began coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. Finally, StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $213.20.

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.