Insider Selling: GoDaddy Inc. (NYSE:GDDY) Director Sells 500 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the completion of the transaction, the director now directly owns 22,121 shares in the company, valued at $3,996,379.86. This trade represents a 2.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $207.70, for a total value 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 value of $99,505.00.

GoDaddy Price Performance

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

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

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of recent research reports. UBS Group lifted their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Jefferies Financial Group raised their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley raised their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Finally, B. Riley lifted their target price on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at $27,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the 4th quarter worth $43,000. Rakuten Securities Inc. boosted its stake in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares during the period. Finally, Friedenthal Financial acquired a new stake in GoDaddy during the 4th quarter worth $49,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.