Mark Mccaffrey Sells 3,317 Shares of GoDaddy (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the transaction, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. The trade was a 4.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GoDaddy Price Performance

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

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $1.32 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GDDY. Wells Fargo & Company decreased their price target on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Barclays lowered their target price on GoDaddy from $235.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Citigroup cut their price target on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. B. Riley dropped their price objective on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 target price on shares of GoDaddy in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.14.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of GoDaddy by 20.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock worth $17,888,000 after purchasing an additional 17,200 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in GoDaddy by 14.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock valued at $15,602,000 after buying an additional 10,631 shares during the last quarter. GDS Wealth Management boosted its position in GoDaddy by 16.3% during the 2nd quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock valued at $10,793,000 after buying an additional 8,388 shares during the period. Neo Ivy Capital Management purchased a new position in shares of GoDaddy in the second quarter valued at about $470,000. Finally, Hsbc Holdings PLC raised its stake in shares of GoDaddy by 20.1% during the second quarter. Hsbc Holdings PLC now owns 804,878 shares of the technology company’s stock valued at $144,863,000 after acquiring an additional 134,520 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

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.