Insider Selling: GoDaddy Inc. (NYSE:GDDY) Director Sells $89,500.00 in Stock

GoDaddy Inc. (NYSE:GDDY) Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

GoDaddy Stock Performance

Shares of GDDY stock opened at $182.95 on Friday. The firm has a 50 day moving average of $162.10 and a 200-day moving average of $150.60. The company has a market cap of $25.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 52 week low of $91.68 and a 52 week high of $190.21.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, equities analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after purchasing an additional 67 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of GoDaddy by 4.3% in the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after buying an additional 74 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after buying an additional 99 shares during the last quarter. Finally, Equitable Trust Co. increased its position in shares of GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GDDY. Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Finally, Piper Sandler raised their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.38.

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.