GoDaddy Inc. (NYSE:GDDY) Director Sells $63,044.00 in Stock

GoDaddy Inc. (NYSE:GDDY) Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

GoDaddy Stock Performance

Shares of GDDY stock opened at $162.42 on Friday. The business’s 50 day simple moving average is $144.38 and its 200 day simple moving average is $129.86. GoDaddy Inc. has a one year low of $69.18 and a one year high of $162.96. The stock has a market capitalization of $23.18 billion, a PE ratio of 13.49 and a beta of 1.14. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, research analysts forecast that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GDDY. Citigroup boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, Morgan Stanley boosted their target price on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $161.25.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently modified their holdings of GDDY. International Assets Investment Management LLC bought a new position in shares of GoDaddy in the 4th quarter worth $1,972,000. Sequoia Financial Advisors LLC purchased a new stake in GoDaddy in the 4th quarter valued at $773,000. Cerity Partners LLC purchased a new stake in GoDaddy in the 4th quarter valued at $240,000. Simplicity Solutions LLC raised its position in GoDaddy by 5.1% in the 4th quarter. Simplicity Solutions LLC now owns 16,636 shares of the technology company’s stock valued at $1,766,000 after buying an additional 812 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in GoDaddy in the 4th quarter valued at $4,204,000. 90.28% of the stock is currently owned by institutional investors.

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.