GoDaddy Inc. (NYSE:GDDY) Director Sells $80,235.00 in Stock

Key Points

• Brian Sharples, a director at GoDaddy Inc., sold 500 shares of the company's stock at an average price of $160.47, totaling $80,235.00, which decreased his ownership stake by 2.28%.
• GoDaddy's stock has seen a significant decline, trading down to $153.34, while the company has a market capitalization of $21.85 billion.
• Analysts maintain a consensus rating of "Moderate Buy" on GoDaddy shares, with an average price target of $214.86.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) Director Brian Sharples sold 500 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $160.47, for a total value of $80,235.00. Following the transaction, the director owned 21,457 shares of the company's stock, valued at $3,443,204.79. The trade was a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Brian Sharples also recently made the following trade(s):

• On Tuesday, July 1st, Brian Sharples sold 500 shares of GoDaddy stock. The shares were sold at an average price of $179.68, for a total transaction of $89,840.00.
• On Monday, June 2nd, Brian Sharples sold 500 shares of GoDaddy stock. The stock was sold at an average price of $182.03, for a total value of $91,015.00.

GoDaddy Stock Down 11.1%

Shares of GDDY traded down $16.69 during mid-day trading on Friday, reaching $133.57. The company had a trading volume of 3,425,977 shares, compared to its average volume of 1,521,827. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average price of $172.41 and a 200 day moving average price of $180.34. GoDaddy Inc. has a 52 week low of $133.23 and a 52 week high of $216.00. The company has a market capitalization of $19.03 billion, a price-to-earnings ratio of 25.69 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler set a $182.00 price objective on GoDaddy and gave the stock an "overweight" rating in a research report on Friday. Royal Bank Of Canada dropped their price target on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday. Barclays decreased their price objective on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday. Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and an average price target of $203.86.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Goldman Sachs Group Inc. grew its position in shares of GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock valued at $402,946,000 after acquiring an additional 1,610,890 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of GoDaddy by 1,412.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after buying an additional 1,258,324 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in GoDaddy by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after buying an additional 710,842 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in GoDaddy by 893.4% in the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock worth $116,685,000 after purchasing an additional 582,539 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

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.