Insider Selling: GoDaddy (NYSE:GDDY) CFO Sells $290,220.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 3,500 shares of GoDaddy stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $82.92, for a total value of $290,220.00. Following the completion of the sale, the chief financial officer directly owned 105,728 shares in the company, valued at approximately $8,766,965.76. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, June 2nd, Mark Mccaffrey sold 3,958 shares of GoDaddy stock. The stock was sold at an average price of $89.86, for a total value of $355,665.88.
• On Monday, May 18th, Mark Mccaffrey sold 16 shares of GoDaddy stock. The stock was sold at an average price of $89.15, for a total value of $1,426.40.

GoDaddy Stock Performance

NYSE:GDDY opened at $76.24 on Friday. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.68 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $85.45 and its two-hundred day simple moving average is $97.98. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $181.49.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 EPS. As a group, equities analysts anticipate that GoDaddy Inc. will post 7.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays dropped their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Royal Bank Of Canada dropped their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group dropped their target price on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Wells Fargo & Company lifted their target price on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Benchmark dropped their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.57.

Hedge Funds Weigh In On GoDaddy

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in GoDaddy during the 4th quarter valued at $250,020,000. AQR Capital Management LLC raised its position in GoDaddy by 117.5% during the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after purchasing an additional 1,615,005 shares in the last quarter. Ameriprise Financial Inc. raised its position in GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after purchasing an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP raised its position in GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after purchasing an additional 814,360 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in GoDaddy by 318.6% during the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock valued at $100,632,000 after purchasing an additional 559,757 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

About GoDaddy

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.