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

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $194.28, for a total transaction of $194,280.00. Following the completion of the sale, the chief operating officer now owns 182,632 shares in the company, valued at $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, January 15th, Roger Chen sold 1,000 shares of GoDaddy stock. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00.
• On Monday, December 16th, Roger Chen sold 1,000 shares of GoDaddy stock. The shares were sold at an average price of $207.35, for a total value of $207,350.00.

GoDaddy Stock Performance

GoDaddy stock opened at $176.45 on Thursday. GoDaddy Inc. has a 12-month low of $108.02 and a 12-month high of $216.00. The stock has a 50-day simple moving average of $202.67 and a 200 day simple moving average of $180.77. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 27.36 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, research analysts anticipate that GoDaddy Inc. will post 6.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in GDDY. Ashton Thomas Securities LLC bought a new position in GoDaddy in the third quarter valued at about $27,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. raised its stake in shares of GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 165 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GDDY. Raymond James lifted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Robert W. Baird upped their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays raised their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, UBS Group increased their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Company Profile

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.