Insider Selling: GoDaddy Inc. (NYSE:GDDY) CFO Sells $596,429.77 in Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $596,429.77. Following the completion of the sale, the chief financial officer now directly owns 74,084 shares of the company’s stock, valued at $13,321,044.04. The trade was a 4.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, May 16th, Mark Mccaffrey sold 16 shares of GoDaddy stock. The stock was sold at an average price of $190.43, for a total transaction of $3,046.88.
• On Monday, May 5th, Mark Mccaffrey sold 37,500 shares of GoDaddy stock. The stock was sold at an average price of $180.95, for a total transaction of $6,785,625.00.
• On Tuesday, April 1st, Mark Mccaffrey sold 5,500 shares of GoDaddy stock. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00.

GoDaddy Trading Up 1.4%

NYSE GDDY opened at $182.93 on Friday. GoDaddy Inc. has a 12 month low of $135.73 and a 12 month high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market capitalization of $26.07 billion, a price-to-earnings ratio of 28.36 and a beta of 1.07. The company’s fifty day moving average price is $179.39 and its two-hundred day moving average price is $189.38.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $2.76 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of GoDaddy in the 1st quarter worth about $1,468,000. Geneos Wealth Management Inc. lifted its position in shares of GoDaddy by 32.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the technology company’s stock worth $132,000 after buying an additional 178 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of GoDaddy in the 1st quarter worth about $315,000. Ascent Group LLC lifted its position in shares of GoDaddy by 36.2% in the 1st quarter. Ascent Group LLC now owns 3,607 shares of the technology company’s stock worth $650,000 after buying an additional 958 shares during the last quarter. Finally, United Services Automobile Association bought a new position in shares of GoDaddy in the 1st quarter worth about $604,000. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent research reports. Royal Bank of Canada dropped their price objective on shares of GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. UBS Group raised their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. B. Riley raised their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Barclays lowered their price target on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $214.86.

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.