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

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now owns 184,632 shares in the company, valued at $38,283,445.20. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, November 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was 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 shares were sold at an average price of $164.16, for a total transaction of $164,160.00.

GoDaddy Stock Performance

NYSE:GDDY opened at $205.41 on Friday. The company has a 50-day moving average of $185.09 and a 200-day moving average of $162.57. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 15.87 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a twelve month low of $99.90 and a twelve month high of $211.11.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm 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 firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. Analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently modified their holdings of GDDY. Principal Financial Group Inc. increased its stake in GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of GoDaddy by 10.2% in the third quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock worth $68,565,000 after buying an additional 38,511 shares during the period. Tidal Investments LLC increased its position in shares of GoDaddy by 38.7% in the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock worth $2,923,000 after acquiring an additional 5,205 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of GoDaddy during the third quarter valued at approximately $922,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of GoDaddy in the 3rd quarter valued at approximately $31,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GDDY shares. Benchmark raised their price target 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. 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 report on Wednesday, December 4th. Jefferies Financial Group boosted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, B. Riley upped their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $181.57.

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.