Insider Selling: GoDaddy Inc. (GDDY) Insider Sells $1,257,360.00 in Stock
GoDaddy Inc. (NYSE:GDDY) insider Barbara J. Rechterman sold 39,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $32.24, for a total transaction of $1,257,360.00. Following the transaction, the insider now directly owns 69,650 shares of the company’s stock, valued at approximately $2,245,516. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of GoDaddy Inc. (NYSE:GDDY) opened at 33.55 on Tuesday. The company’s 50-day moving average is $32.42 and its 200 day moving average is $31.47. GoDaddy Inc. has a 52 week low of $23.39 and a 52 week high of $35.35. The firm’s market capitalization is $5.11 billion.
GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.04. GoDaddy had a negative return on equity of 3.30% and a negative net margin of 1.26%. The company had revenue of $456.20 million for the quarter, compared to analyst estimates of $450.51 million. During the same period last year, the company posted ($0.46) EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts anticipate that GoDaddy Inc. will post ($0.04) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC raised its stake in GoDaddy by 1,394.6% in the fourth quarter. Highbridge Capital Management LLC now owns 208,622 shares of the company’s stock valued at $6,689,000 after buying an additional 194,664 shares during the last quarter. Taylor Wealth Management Partners acquired a new stake in GoDaddy during the first quarter valued at about $4,904,000. Sit Investment Associates Inc. raised its stake in GoDaddy by 20.1% in the first quarter. Sit Investment Associates Inc. now owns 30,500 shares of the company’s stock valued at $986,000 after buying an additional 5,100 shares during the last quarter. Aperio Group LLC raised its stake in GoDaddy by 1.0% in the first quarter. Aperio Group LLC now owns 9,907 shares of the company’s stock valued at $320,000 after buying an additional 98 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in GoDaddy by 83.1% in the first quarter. TIAA CREF Investment Management LLC now owns 241,785 shares of the company’s stock valued at $7,817,000 after buying an additional 109,760 shares during the last quarter.
Several equities analysts have commented on the stock. B. Riley reissued a “neutral” rating and issued a $33.50 price target on shares of GoDaddy in a research report on Tuesday, August 9th. Piper Jaffray Cos. set a $40.00 price target on shares of GoDaddy and gave the company a “buy” rating in a research report on Monday. Citigroup Inc. cut shares of GoDaddy from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Tuesday, June 7th. Raymond James Financial Inc. assumed coverage on shares of GoDaddy in a research report on Tuesday, June 14th. They issued an “outperform” rating and a $37.00 price target for the company. Finally, Zacks Investment Research cut shares of GoDaddy from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.88.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. The Company operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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