Roger Chen Sells 4,000 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the transaction, the chief operating officer now owns 200,632 shares of the company’s stock, valued at $24,597,483.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

GoDaddy Trading Down 0.6 %

Shares of NYSE GDDY opened at $123.64 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a 12 month low of $67.43 and a 12 month high of $127.99. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 10.27 and a beta of 1.09. The business has a fifty day simple moving average of $119.99 and a 200-day simple moving average of $106.65.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 102.82%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Sell-side analysts predict that GoDaddy Inc. will post 4.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James initiated coverage on shares of GoDaddy in a report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective for the company. Evercore ISI increased their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a report on Friday. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. UBS Group upped their target price on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Benchmark reiterated a “buy” rating and set a $150.00 price target on shares of GoDaddy in a research report on Wednesday. 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $142.73.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter worth $181,687,000. Federated Hermes Inc. boosted its position in GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after acquiring an additional 928,273 shares during the period. Los Angeles Capital Management LLC boosted its position in GoDaddy by 7,379.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after acquiring an additional 714,075 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of GoDaddy by 71.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after purchasing an additional 695,897 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of GoDaddy by 88.7% in the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.