GoDaddy Inc. (NYSE:GDDY) Director Sells $91,741.00 in Stock

Key Points

• GoDaddy Inc. Director Leah Sweet sold 650 shares for $91,741 on August 13, reducing her ownership by 5.11% to a total of 12,064 shares.
• The company reported earnings of $1.41 per share for the latest quarter, exceeding the consensus estimate by $0.07, alongside an 8.3% year-over-year revenue increase to $1.22 billion.
• Wall Street analysts have recently lowered their price targets for GoDaddy, with a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total value of $91,741.00. Following the sale, the director directly owned 12,064 shares in the company, valued at approximately $1,702,712.96. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

GoDaddy Price Performance

GDDY traded up $2.49 during trading on Friday, reaching $146.12. The stock had a trading volume of 2,456,652 shares, compared to its average volume of 1,589,860. The firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.55 and a beta of 1.08. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a 1-year low of $132.51 and a 1-year high of $216.00. The stock has a 50 day moving average of $167.44 and a two-hundred day moving average of $177.57.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%. The firm's revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cornerstone Planning Group LLC raised its stake 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. Bayforest Capital Ltd acquired a new stake in GoDaddy during the 2nd quarter valued at $26,000. NewSquare Capital LLC raised its stake in GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company's stock valued at $27,000 after purchasing an additional 94 shares during the period. Park Square Financial Group LLC acquired a new stake in GoDaddy during the 1st quarter valued at $27,000. Finally, Private Trust Co. NA raised its stake 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. Institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GDDY shares. Raymond James Financial lowered their price objective on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada lowered their target price on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Citigroup reduced their price objective on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Wells Fargo & Company reduced their price objective on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and an average price target of $202.43.

About GoDaddy

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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