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

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, August 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $146.48, for a total value of $585,920.00.
• On Monday, July 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The stock was sold at an average price of $139.79, for a total value of $559,160.00.

GoDaddy Trading Up 3.8 %

GDDY stock opened at $160.18 on Friday. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The business’s 50 day moving average is $154.05 and its 200-day moving average is $138.35. The firm has a market cap of $22.86 billion, a P/E ratio of 13.30 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Equities analysts anticipate that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in GoDaddy during the second quarter worth about $28,000. ORG Partners LLC acquired a new position in shares of GoDaddy in the 2nd quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $28,000. International Assets Investment Management LLC bought a new stake in GoDaddy during the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC increased its holdings in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of several recent analyst reports. Barclays lifted their price target on GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price 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. Benchmark increased their price target on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 26th. Cantor Fitzgerald initiated coverage on shares of GoDaddy in a report on Thursday, September 5th. They set a “neutral” rating and a $170.00 price objective on the stock. Finally, B. Riley upped their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Five 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 company. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $164.08.

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.