Insider Selling: GoDaddy Inc. (NYSE:GDDY) COO Sells 4,000 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, April 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The stock was sold at an average price of $118.56, for a total value of $474,240.00.
• On Friday, March 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $114.11, for a total value of $456,440.00.

GoDaddy Price Performance

GDDY stock opened at $123.64 on Monday. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The company’s 50-day moving average is $119.99 and its 200-day moving average is $106.87. The stock has a market capitalization of $17.62 billion, a PE ratio of 10.27 and a beta of 1.09. GoDaddy Inc. has a 1 year low of $67.43 and a 1 year high of $127.99.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 102.82% and a net margin of 40.38%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Equities research analysts expect that GoDaddy Inc. will post 4.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GDDY shares. Robert W. Baird raised their target price on shares of GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 25th. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $128.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. B. Riley lifted their price target on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada raised their price objective on GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.73.

Institutional Trading of GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in GDDY. Mediolanum International Funds Ltd purchased a new stake in GoDaddy in the first quarter valued at about $10,822,000. GSA Capital Partners LLP purchased a new stake in GoDaddy during the 1st quarter worth about $667,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of GoDaddy by 62.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,994 shares of the technology company’s stock worth $593,000 after purchasing an additional 1,919 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of GoDaddy in the 1st quarter valued at about $930,000. Finally, Daiwa Securities Group Inc. raised its holdings in GoDaddy by 14.2% during the first quarter. Daiwa Securities Group Inc. now owns 28,178 shares of the technology company’s stock worth $3,344,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.