Mark Mccaffrey Sells 2,684 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 2,684 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $422,005.32. Following the completion of the sale, the chief financial officer now owns 98,602 shares in the company, valued at approximately $15,503,192.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

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

GoDaddy Stock Down 2.7 %

Shares of GoDaddy stock traded down $4.30 during trading hours on Thursday, hitting $152.99. 1,920,969 shares of the company’s stock traded hands, compared to its average volume of 1,565,658. The company has a market cap of $21.83 billion, a PE ratio of 12.72 and a beta of 1.14. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The stock has a 50 day simple moving average of $151.81 and a 200-day simple moving average of $135.43. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts anticipate that GoDaddy Inc. will post 4.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on GDDY. B. Riley raised their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Benchmark increased their target price on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Piper Sandler increased their target price on GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Raymond James increased their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald initiated coverage on GoDaddy in a research report on Thursday. They issued a “neutral” rating and a $170.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.08.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in GoDaddy in the second quarter valued at approximately $1,097,000. Cetera Investment Advisers boosted its stake in GoDaddy by 10.9% in the second quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock valued at $2,509,000 after acquiring an additional 1,764 shares during the period. Truist Financial Corp boosted its stake in GoDaddy by 1.1% in the second quarter. Truist Financial Corp now owns 35,534 shares of the technology company’s stock valued at $4,964,000 after acquiring an additional 393 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in GoDaddy in the second quarter valued at approximately $245,000. Finally, Invst LLC raised its holdings in shares of GoDaddy by 4.8% during the second quarter. Invst LLC now owns 7,558 shares of the technology company’s stock valued at $1,069,000 after buying an additional 349 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.