GoDaddy Inc. (NYSE:GDDY) COO Roger Chen 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 that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the sale, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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 transaction 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 transaction of $200,570.00.

GoDaddy Stock Down 1.1 %

Shares of NYSE GDDY opened at $178.18 on Wednesday. The company has a market capitalization of $25.19 billion, a P/E ratio of 27.63 and a beta of 1.25. GoDaddy Inc. has a 52-week low of $118.14 and a 52-week 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. The company’s 50 day moving average price is $192.25 and its 200-day moving average price is $182.91.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GDDY shares. Morgan Stanley increased their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Raymond James increased their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Benchmark upped 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 research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC increased its holdings in GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after purchasing an additional 53 shares in the last quarter. Advisors Capital Management LLC increased its holdings in GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after purchasing an additional 55 shares in the last quarter. BNP Paribas increased its holdings in GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after purchasing an additional 59 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after purchasing an additional 64 shares in the last quarter. Finally, New York Life Investment Management LLC increased its holdings in GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after purchasing an additional 71 shares in the last quarter. 90.28% of the stock is currently owned by 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.