GoDaddy (NYSE:GDDY) CAO Sells $123,973.86 in Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 969 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $123,973.86. Following the completion of the transaction, the chief accounting officer directly owned 19,452 shares in the company, valued at $2,488,688.88. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

GoDaddy Stock Performance

GDDY stock traded up $1.80 during midday trading on Wednesday, hitting $130.11. The stock had a trading volume of 1,934,048 shares, compared to its average volume of 1,563,454. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The stock has a 50-day simple moving average of $131.32 and a 200 day simple moving average of $152.21. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.42 and a beta of 0.95. GoDaddy Inc. has a 52 week low of $121.94 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company posted $1.32 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. B. Riley reduced their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Citigroup lowered their price target on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a report on Friday, October 31st. Wells Fargo & Company decreased their target price on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Evercore ISI decreased their price target on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.14.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently bought and sold shares of GDDY. Norges Bank purchased a new position in GoDaddy in the 2nd quarter worth approximately $341,588,000. Goldman Sachs Group Inc. raised its position in GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock valued at $402,946,000 after purchasing an additional 1,610,890 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after purchasing an additional 1,128,646 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of GoDaddy by 2,289.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock valued at $157,305,000 after purchasing an additional 837,065 shares during the period. Finally, Two Sigma Investments LP lifted its position in GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after acquiring an additional 814,360 shares during the period. 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.