Insider Selling: GoDaddy Inc. (NYSE:GDDY) CFO Sells $422,005.32 in Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 2,684 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $422,005.32. Following the completion of the sale, the chief financial officer now owns 98,602 shares in the company, valued at $15,503,192.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Mark Mccaffrey also recently made the following trade(s):

• On Wednesday, August 28th, Mark Mccaffrey sold 5,500 shares of GoDaddy stock. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00.

GoDaddy Trading Down 2.0 %

NYSE GDDY opened at $150.00 on Friday. The company has a fifty day moving average of $152.27 and a 200 day moving average of $135.83. The company has a market capitalization of $21.40 billion, a PE ratio of 12.46 and a beta of 1.13. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data 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 firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. Research analysts forecast that GoDaddy Inc. will post 4.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GDDY shares. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Barclays raised their price target on shares of GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald started coverage on shares of GoDaddy in a research note on Thursday. They set a “neutral” rating and a $170.00 price objective for the company. Piper Sandler lifted their price objective on shares of GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $164.08.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GDDY. International Assets Investment Management LLC acquired a new position in shares of GoDaddy in the fourth quarter worth about $1,972,000. Victory Capital Management Inc. raised its position in shares of GoDaddy by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 77,216 shares of the technology company’s stock worth $8,197,000 after acquiring an additional 699 shares during the period. Natixis Advisors L.P. raised its position in shares of GoDaddy by 7.3% in the fourth quarter. Natixis Advisors L.P. now owns 35,166 shares of the technology company’s stock worth $3,733,000 after acquiring an additional 2,398 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of GoDaddy in the fourth quarter worth about $127,000. Finally, Principal Securities Inc. purchased a new stake in shares of GoDaddy during the fourth quarter worth about $109,000. 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.