GoDaddy Inc. (NYSE:GDDY) CAO Sells $386,511.51 in Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the transaction, the chief accounting officer now directly owns 21,198 shares of the company’s stock, valued at approximately $3,770,488.26. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Phontip Palitwanon also recently made the following trade(s):

• On Tuesday, June 3rd, Phontip Palitwanon sold 684 shares of GoDaddy stock. The shares were sold at an average price of $179.81, for a total transaction of $122,990.04.
• On Friday, May 16th, Phontip Palitwanon sold 10 shares of GoDaddy stock. The shares were sold at an average price of $190.43, for a total transaction of $1,904.30.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $175.57 on Friday. The firm has a market cap of $25.02 billion, a PE ratio of 27.22 and a beta of 1.07. The firm’s 50 day simple moving average is $180.22 and its 200-day simple moving average is $188.71. GoDaddy Inc. has a one year low of $135.73 and a one year 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.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $2.76 earnings per share. As a group, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group lowered their price target on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 7th. Royal Bank of Canada decreased their price objective on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Morgan Stanley decreased their price objective on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.86.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently modified their holdings of GDDY. Strs Ohio acquired a new stake in shares of GoDaddy during the first quarter worth $1,468,000. Geneos Wealth Management Inc. increased its stake in shares of GoDaddy by 32.2% during the first quarter. Geneos Wealth Management Inc. now owns 730 shares of the technology company’s stock worth $132,000 after purchasing an additional 178 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in shares of GoDaddy during the first quarter worth about $315,000. Ascent Group LLC increased its stake in shares of GoDaddy by 36.2% during the first quarter. Ascent Group LLC now owns 3,607 shares of the technology company’s stock worth $650,000 after purchasing an additional 958 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of GoDaddy during the first quarter worth about $604,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

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.