Insider Selling: GoDaddy Inc. (NYSE:GDDY) Director Sells 650 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) Director Leah Sweet sold 650 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total transaction of $91,741.00. Following the transaction, 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 document filed with the SEC, which is available at this link.

GoDaddy Stock Performance

Shares of GDDY stock opened at $146.12 on Friday. GoDaddy Inc. has a one year low of $132.51 and a one year high of $216.00. The company’s 50-day moving average is $167.44 and its 200 day moving average is $177.32. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.58 and a beta of 1.08. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.56 and a current ratio of 0.64.

GoDaddy (NYSE:GDDY) last posted its 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 business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. Sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Hedge Funds Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently bought and sold shares of GDDY. Cornerstone Planning Group LLC lifted 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 acquiring an additional 79 shares during the period. Bayforest Capital Ltd bought a new position in shares of GoDaddy in the 2nd quarter worth approximately $26,000. Park Square Financial Group LLC bought a new position in shares of GoDaddy in the 1st quarter worth approximately $27,000. NewSquare Capital LLC lifted its stake in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock worth $29,000 after purchasing an additional 136 shares during the period. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GDDY. Raymond James Financial reduced their price objective on shares of GoDaddy from $225.00 to $175.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 8th. Wall Street Zen downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Citigroup reduced their price objective on shares of GoDaddy from $234.00 to $214.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Piper Sandler set a $182.00 price objective on shares of GoDaddy and gave the company an “overweight” rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.43.

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.