Insider Selling: GoDaddy Inc. (NYSE:GDDY) COO Sells $174,210.00 in Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now directly owns 257,949 shares in the company, valued at approximately $44,937,295.29. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, February 14th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was sold at an average price of $194.28, for a total value of $194,280.00.
• On Wednesday, January 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was sold at an average price of $200.57, for a total value of $200,570.00.

GoDaddy Price Performance

Shares of GDDY opened at $180.72 on Friday. The firm has a market cap of $25.55 billion, a PE ratio of 28.02 and a beta of 1.25. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm has a fifty day simple moving average of $191.62 and a two-hundred day simple moving average of $182.88. GoDaddy Inc. has a 1-year low of $118.39 and a 1-year high of $216.00.

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 analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of analyst reports. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Barclays boosted their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (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. Finally, UBS Group boosted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock worth $751,778,000 after purchasing an additional 395,160 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock worth $692,245,000 after purchasing an additional 90,810 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock worth $575,122,000 after purchasing an additional 304,033 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other 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.