GoDaddy Inc. (NYSE:GDDY) CFO Sells $75,397.92 in Stock

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CFO Mark Mccaffrey sold 624 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares in the company, valued at approximately $14,055,912.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mark Mccaffrey also recently made the following trade(s):

• On Thursday, March 7th, Mark Mccaffrey sold 4,000 shares of GoDaddy stock. The stock was sold at an average price of $110.92, for a total value of $443,680.00.
• On Monday, March 4th, Mark Mccaffrey sold 28,392 shares of GoDaddy stock. The stock was sold at an average price of $110.54, for a total value of $3,138,451.68.

GoDaddy Stock Up 1.4 %

Shares of NYSE GDDY traded up $1.66 during trading hours on Wednesday, hitting $123.90. The stock had a trading volume of 1,276,748 shares, compared to its average volume of 1,527,413. The company has a market capitalization of $17.65 billion, a P/E ratio of 12.93 and a beta of 1.12. The firm's 50-day moving average price is $114.09 and its two-hundred day moving average price is $99.05. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $123.92. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Analysts anticipate that GoDaddy Inc. will post 4.74 EPS for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Morgan Stanley lifted its holdings in shares of GoDaddy by 517.4% during the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company's stock worth $458,311,000 after buying an additional 5,133,332 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of GoDaddy by 23.6% during the second quarter. BlackRock Inc. now owns 10,522,511 shares of the technology company's stock worth $790,556,000 after buying an additional 2,010,233 shares during the last quarter. Starboard Value LP lifted its holdings in shares of GoDaddy by 23.9% during the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company's stock worth $765,637,000 after buying an additional 1,973,118 shares during the last quarter. Norges Bank acquired a new position in shares of GoDaddy during the fourth quarter worth approximately $181,687,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of GoDaddy by 777.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,880,286 shares of the technology company's stock worth $199,612,000 after buying an additional 1,666,022 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on GDDY. Benchmark restated a "buy" rating and set a $150.00 price objective on shares of GoDaddy in a report on Thursday, March 7th. B. Riley lifted their target price on GoDaddy from $124.00 to $142.00 and gave the company a "buy" rating in a research note on Thursday, March 7th. StockNews.com raised GoDaddy from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 14th. Piper Sandler lifted their target price on GoDaddy from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $124.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $135.18.

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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