GoDaddy Inc. (NYSE:GDDY) COO Roger Chen Sells 1,000 Shares

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the transaction, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at $28,551,961.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, August 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00.
• On Monday, July 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00.

GoDaddy Trading Up 3.8 %

NYSE GDDY opened at $160.18 on Friday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The stock’s 50-day moving average is $154.05 and its 200-day moving average is $138.35. The firm has a market cap of $22.86 billion, a P/E ratio of 13.30 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently modified their holdings of GDDY. Price T Rowe Associates Inc. MD grew its stake in shares of GoDaddy by 94.4% in 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 in the last quarter. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $181,687,000. Kodai Capital Management LP acquired a new stake in shares of GoDaddy in the first quarter valued at approximately $75,855,000. Bank of Nova Scotia boosted its stake in shares of GoDaddy by 3,411.0% in the fourth quarter. Bank of Nova Scotia now owns 438,002 shares of the technology company’s stock valued at $46,497,000 after buying an additional 425,527 shares during the period. Finally, Federated Hermes Inc. grew its position in GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after buying an additional 394,399 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GDDY has been the subject of several research reports. B. Riley lifted their target price on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald began coverage on GoDaddy in a research report on Thursday, September 5th. They issued a “neutral” rating and a $170.00 price objective for the company. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Finally, Barclays lifted their price target on shares of GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $164.08.

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.