GoDaddy Inc. (NYSE:GDDY) COO Roger Chen Sells 1,000 Shares

GoDaddy Inc. (NYSE:GDDY - Get Free Report) COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $169.59, for a total transaction of $169,590.00. Following the transaction, the chief operating officer owned 253,949 shares in the company, valued at approximately $43,067,210.91. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Roger Chen also recently made the following trade(s):

• On Monday, June 16th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was sold at an average price of $175.96, for a total transaction of $175,960.00.
• On Thursday, May 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The stock was sold at an average price of $188.21, for a total transaction of $188,210.00.

GoDaddy Price Performance

Shares of GDDY traded up $0.12 during trading hours on Thursday, hitting $168.36. 1,054,277 shares of the company were exchanged, compared to its average volume of 1,342,215. The company has a market cap of $23.99 billion, a price-to-earnings ratio of 32.38 and a beta of 1.05. GoDaddy Inc. has a fifty-two week low of $140.11 and a fifty-two week high of $216.00. The firm's fifty day moving average is $179.24 and its 200 day moving average is $184.01. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. GoDaddy's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.76 EPS. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group decreased their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a $225.00 target price on shares of GoDaddy in a report on Monday, June 23rd. Morgan Stanley decreased their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler raised their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GDDY. Norges Bank purchased a new stake in shares of GoDaddy in the 4th quarter worth approximately $356,038,000. Goldman Sachs Group Inc. increased its holdings in shares of GoDaddy by 257.3% during the first 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of GoDaddy by 1,412.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock valued at $242,727,000 after acquiring an additional 1,258,324 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after purchasing an additional 719,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position 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 purchasing an additional 710,842 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

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.

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