Insider Selling: GoDaddy Inc. (NYSE:GDDY) COO Sells 1,000 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $194.28, for a total transaction of $194,280.00. Following the sale, the chief operating officer now directly owns 182,632 shares in the company, valued at $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, January 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00.
• On Monday, December 16th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was sold at an average price of $207.35, for a total value of $207,350.00.

GoDaddy Stock Down 2.6 %

Shares of NYSE:GDDY traded down $4.63 during midday trading on Wednesday, hitting $176.45. 2,171,474 shares of the company’s stock were exchanged, compared to its average volume of 1,324,028. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 12 month low of $108.02 and a 12 month high of $216.00. The company has a market cap of $24.77 billion, a PE ratio of 27.36 and a beta of 1.15. The stock has a 50 day moving average price of $202.67 and a 200-day moving average price of $180.77.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.69 EPS for the current fiscal year.

Hedge Funds Weigh In On GoDaddy

Large investors have recently modified their holdings of the business. Invst LLC boosted its stake in GoDaddy by 1.0% in the 4th quarter. Invst LLC now owns 7,521 shares of the technology company’s stock worth $1,484,000 after purchasing an additional 74 shares during the period. Vise Technologies Inc. bought a new stake in GoDaddy during the fourth quarter worth about $255,000. City National Bank of Florida MSD purchased a new stake in GoDaddy in the fourth quarter worth approximately $659,000. Woodline Partners LP bought a new position in shares of GoDaddy during the 4th quarter valued at $2,616,000. Finally, Zurich Insurance Group Ltd FI increased its holdings in shares of GoDaddy by 14.3% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 343,178 shares of the technology company’s stock worth $67,733,000 after buying an additional 42,901 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird raised their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective on the stock. Piper Sandler increased their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Benchmark lifted their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

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.