GoDaddy (NYSE:GDDY) CFO Sells $355,665.88 in Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 3,958 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $355,665.88. Following the completion of the transaction, the chief financial officer owned 109,228 shares in the company, valued at $9,815,228.08. This represents a 3.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 transaction of $1,426.40.

GoDaddy Price Performance

GDDY opened at $84.59 on Friday. The company has a 50-day moving average of $85.70 and a 200-day moving average of $99.60. The company has a market capitalization of $11.20 billion, a P/E ratio of 13.38, a PEG ratio of 0.76 and a beta of 0.90. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $183.34. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.51 EPS. Equities analysts expect that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Institutional Trading of GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in GoDaddy by 0.8% during the third quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock valued at $2,587,754,000 after purchasing an additional 150,045 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in GoDaddy by 47.0% during the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after purchasing an additional 1,128,646 shares during the last quarter. WCM Investment Management LLC lifted its stake in GoDaddy by 1.0% during the first quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock valued at $270,924,000 after purchasing an additional 33,509 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in GoDaddy by 11.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock valued at $399,089,000 after purchasing an additional 319,515 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in GoDaddy by 117.5% during the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after purchasing an additional 1,615,005 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. Citigroup decreased their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Jefferies Financial Group decreased their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Barclays decreased their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Finally, Evercore set a $95.00 target price on shares of GoDaddy in a research report 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.