Insider Selling: GoDaddy (NYSE:GDDY) CAO Sells 2,397 Shares of Stock

by · The Markets Daily

GoDaddy Inc. (NYSE:GDDY – Get Free Report) CAO Phontip Palitwanon sold 2,397 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the transaction, the chief accounting officer owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This trade represents a 12.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Phontip Palitwanon also recently made the following trade(s):

  • On Tuesday, December 2nd, Phontip Palitwanon sold 969 shares of GoDaddy stock. The stock was sold at an average price of $127.94, for a total transaction of $123,973.86.

GoDaddy Stock Performance

GDDY traded down $1.27 during trading on Friday, hitting $124.78. 1,373,791 shares of the company traded hands, compared to its average volume of 1,555,665. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00. The stock’s fifty day moving average is $130.10 and its 200 day moving average is $150.03. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a market cap of $16.86 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 1.43 and a beta of 0.95.

GoDaddy (NYSE:GDDY – Get Free Report) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the company earned $1.32 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in GDDY. Norges Bank bought a new position in GoDaddy during the second quarter valued at approximately $341,588,000. Goldman Sachs Group Inc. boosted its stake in shares of GoDaddy by 257.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock valued at $402,946,000 after purchasing an additional 1,610,890 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of GoDaddy by 47.0% during the 3rd 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. Qube Research & Technologies Ltd raised its position in GoDaddy by 2,289.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock worth $157,305,000 after purchasing an additional 837,065 shares during the period. Finally, Two Sigma Investments LP lifted its stake in GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after purchasing an additional 814,360 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the subject of several research reports. Wells Fargo & Company reduced their price objective on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. JPMorgan Chase & Co. cut their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Benchmark restated a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of GoDaddy in a research report on Friday, October 31st. Finally, B. Riley reduced their target price on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.14.

View Our Latest Stock Analysis on GoDaddy

About GoDaddy

(Get Free Report)

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.

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