GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey Sells 5,500 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, June 4th, Mark Mccaffrey sold 2,687 shares of GoDaddy stock. The stock was sold at an average price of $138.09, for a total value of $371,047.83.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $167.41 on Friday. The company has a 50-day simple moving average of $150.52 and a 200-day simple moving average of $134.23. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $23.89 billion, a PE ratio of 13.90 and a beta of 1.14. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GDDY. Royal Bank of Canada lifted their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Morgan Stanley increased their price target on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Raymond James boosted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler increased their target price on shares of GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Citigroup boosted their price target on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $163.58.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the period. Norges Bank acquired a new position in GoDaddy during the fourth quarter valued at approximately $181,687,000. Los Angeles Capital Management LLC grew its stake in GoDaddy by 7,379.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after buying an additional 714,075 shares during the period. Kodai Capital Management LP purchased a new stake in GoDaddy during the first quarter worth approximately $75,855,000. Finally, Assenagon Asset Management S.A. increased its position in shares of GoDaddy by 1,309.7% in the first quarter. Assenagon Asset Management S.A. now owns 509,002 shares of the technology company’s stock worth $60,408,000 after acquiring an additional 472,894 shares in the last quarter. Hedge funds and other institutional investors 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.