GoDaddy Inc. (NYSE:GDDY) COO Roger Chen Sells 1,000 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at $28,551,961.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Thursday, August 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $146.48, for a total value of $585,920.00.
• On Monday, July 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $139.79, for a total value of $559,160.00.

GoDaddy Stock Performance

Shares of GDDY opened at $154.27 on Thursday. The company has a market cap of $22.01 billion, a PE ratio of 12.81 and a beta of 1.13. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a 50-day moving average price of $153.69 and a 200-day moving average price of $138.20. GoDaddy Inc. has a 12-month low of $71.15 and a 12-month high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. As a group, equities analysts forecast that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GDDY. Barclays lifted their price objective on GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Citigroup raised their target price on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.08.

Institutional Trading of GoDaddy

A number of hedge funds have recently bought and sold shares of GDDY. Price T Rowe Associates Inc. MD lifted its position in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Norges Bank purchased a new position in GoDaddy in the 4th quarter worth approximately $181,687,000. Kodai Capital Management LP purchased a new position in GoDaddy in the 1st quarter worth approximately $75,855,000. Bank of Nova Scotia increased its stake in GoDaddy by 3,411.0% in the 4th quarter. Bank of Nova Scotia now owns 438,002 shares of the technology company’s stock worth $46,497,000 after purchasing an additional 425,527 shares during the period. Finally, Federated Hermes Inc. increased its stake in GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Institutional investors own 90.28% of the company’s stock.

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.