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

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the transaction, the chief accounting officer now directly owns 21,198 shares in the company, 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 Securities & Exchange Commission, which is available through this link.

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 value 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 value of $1,904.30.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $2.20 during mid-day trading on Friday, hitting $175.57. The company had a trading volume of 1,271,912 shares, compared to its average volume of 1,479,429. The company has a market capitalization of $25.02 billion, a price-to-earnings ratio of 27.22 and a beta of 1.07. GoDaddy Inc. has a 1 year low of $135.73 and a 1 year high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The stock's 50-day moving average price is $180.22 and its 200-day moving average price is $188.65.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. GoDaddy's quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Institutional Investors Weigh In On GoDaddy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Planning Group LLC increased its holdings in GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after purchasing an additional 79 shares during the period. Park Square Financial Group LLC purchased a new position in GoDaddy during the 1st quarter valued at about $27,000. Private Trust Co. NA increased its holdings in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after purchasing an additional 136 shares during the period. Zions Bancorporation National Association UT purchased a new position in GoDaddy during the 1st quarter valued at about $30,000. Finally, Banque Transatlantique SA purchased a new position in GoDaddy during the 1st quarter valued at about $36,000. Institutional investors own 90.28% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GDDY. Morgan Stanley dropped their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler lifted their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Jefferies Financial Group dropped their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

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.