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

GoDaddy Inc. (NYSE:GDDY) COO Roger Chen sold 4,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the sale, the chief operating officer now owns 200,632 shares in the company, valued at approximately $24,597,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $474,240.00.
• On Friday, March 1st, Roger Chen sold 4,000 shares of GoDaddy stock. The shares were sold at an average price of $114.11, for a total value of $456,440.00.

GoDaddy Stock Performance

NYSE:GDDY opened at $123.64 on Friday. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $17.62 billion, a PE ratio of 10.27 and a beta of 1.09. GoDaddy Inc. has a fifty-two week low of $67.43 and a fifty-two week high of $127.99. The company has a fifty day moving average of $119.99 and a two-hundred day moving average of $106.44.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 102.82%. As a group, research analysts forecast that GoDaddy Inc. will post 4.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on GDDY shares. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Evercore ISI raised their price objective on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $150.00 target price on shares of GoDaddy in a report on Wednesday. Robert W. Baird increased their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Finally, Royal Bank of Canada raised their price target on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday. Four 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.73.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of GoDaddy by 17.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,774 shares of the technology company’s stock worth $4,452,000 after buying an additional 9,000 shares in the last quarter. Xponance Inc. grew its stake in GoDaddy by 79.8% during the 3rd quarter. Xponance Inc. now owns 27,804 shares of the technology company’s stock valued at $2,071,000 after acquiring an additional 12,343 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in GoDaddy by 88.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock valued at $106,890,000 after acquiring an additional 674,719 shares during the last quarter. Diversified Investment Strategies LLC lifted its stake in GoDaddy by 4.7% in the 3rd quarter. Diversified Investment Strategies LLC now owns 104,695 shares of the technology company’s stock worth $7,798,000 after purchasing an additional 4,690 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of GoDaddy by 472.7% during the 3rd quarter. New York State Teachers Retirement System now owns 79,612 shares of the technology company’s stock worth $5,930,000 after purchasing an additional 65,712 shares during the last quarter. Institutional investors and hedge funds 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.