Insider Selling: GoDaddy (NYSE:GDDY) CFO Sells 3,500 Shares of Stock

Key Points

• GoDaddy CFO Mark Mccaffrey sold 3,500 shares on June 8 at an average price of $82.92, totaling about $290,220. After the sale, he still held 105,728 shares.
• This was part of a recent pattern of insider selling, as Mccaffrey also sold 3,958 shares on June 2 and a small batch of shares on May 18.
• GoDaddy shares were down 1.4% to $80.42, while the company’s latest earnings beat expectations with Q1 EPS of $1.60 versus the $1.53 consensus and revenue up 6.1% year over year.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CFO Mark Mccaffrey sold 3,500 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 105,728 shares in the company, valued at $8,766,965.76. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 Down 1.4%

Shares of GoDaddy stock traded down $1.15 during trading hours on Wednesday, reaching $80.42. 1,828,299 shares of the company were exchanged, compared to its average volume of 2,877,692. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $181.49. The stock's fifty day moving average is $85.68 and its 200 day moving average is $98.49. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $10.65 billion, a PE ratio of 12.72, a PEG ratio of 0.73 and a beta of 0.90.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company earned $1.51 earnings per share. The company's revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

Large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of GoDaddy during the fourth quarter worth about $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth about $25,000. Activest Wealth Management boosted its stake in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company's stock worth $25,000 after buying an additional 198 shares during the period. International Assets Investment Management LLC boosted its stake in shares of GoDaddy by 93.8% during the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company's stock worth $30,000 after buying an additional 180 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company's stock worth $32,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GDDY. JPMorgan Chase & Co. cut their price objective on GoDaddy from $167.00 to $154.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Cantor Fitzgerald lowered their target price on shares of GoDaddy from $130.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. UBS Group began coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They set a "neutral" rating and a $100.00 target price for the company. Piper Sandler began coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a "neutral" rating and a $93.00 target price for the company. Finally, Royal Bank Of Canada lowered their target price on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.57.

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.

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