Mark Mccaffrey Sells 3,958 Shares of GoDaddy (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the transaction, the chief financial officer directly owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, May 18th, Mark Mccaffrey sold 16 shares of GoDaddy stock. The shares were sold at an average price of $89.15, for a total value of $1,426.40.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $84.59 on Friday. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90. The stock has a fifty day simple moving average of $85.70 and a two-hundred day simple moving average of $99.60. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $183.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 earnings per share. Analysts anticipate that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Institutional Investors Weigh In On GoDaddy

Institutional investors and hedge funds have recently made changes to their positions in the business. Rachor Investment Advisory Services LLC purchased a new stake in shares of GoDaddy in the fourth quarter worth $25,000. Activest Wealth Management raised its position in shares of GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GoDaddy in the fourth quarter worth $25,000. Brown Brothers Harriman & Co. raised its position in shares of GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after buying an additional 150 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in shares of GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GDDY. Evercore set a $95.00 target price on GoDaddy in a research report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their target price on GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Piper Sandler began coverage on GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. UBS Group began coverage on GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price on the stock. Finally, Raymond James Financial restated a “strong-buy” rating and set a $100.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $120.57.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.