Insider Selling: GoDaddy Inc. (NYSE:GDDY) COO Sells $490,400.00 in Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now directly owns 200,632 shares of the company’s stock, valued at approximately $24,597,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Roger Chen also recently made the following trade(s):

• On Monday, April 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00.
• On Friday, March 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $114.11, for a total transaction of $456,440.00.

GoDaddy Price Performance

Shares of GDDY opened at $123.64 on Monday. The firm has a 50-day simple moving average of $119.99 and a two-hundred day simple moving average of $106.87. The stock has a market cap of $17.62 billion, a PE ratio of 10.27 and a beta of 1.09. GoDaddy Inc. has a 1-year low of $67.43 and a 1-year high of $127.99. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 102.82% and a net margin of 40.38%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. As a group, analysts forecast that GoDaddy Inc. will post 4.93 EPS for the current year.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in shares of GoDaddy in the 4th quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. Frazier Financial Advisors LLC purchased a new position in GoDaddy in the fourth quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV grew its holdings in GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of GoDaddy in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent research reports. Benchmark restated a “buy” rating and set a $150.00 target price on shares of GoDaddy in a report on Wednesday, May 1st. Morgan Stanley boosted their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank of Canada raised their target price on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group upped their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays raised their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.73.

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.