GoDaddy Inc. (NYSE:GDDY) CAO Sells $122,990.04 in Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 684 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $122,990.04. Following the transaction, the chief accounting officer now directly owns 23,371 shares in the company, valued at $4,202,339.51. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Phontip Palitwanon also recently made the following trade(s):

• On Friday, May 16th, Phontip Palitwanon sold 10 shares of GoDaddy stock. The shares were sold at an average price of $190.43, for a total value of $1,904.30.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $182.93 on Friday. The business has a 50 day moving average price of $179.39 and a 200 day moving average price of $189.38. GoDaddy Inc. has a twelve month low of $135.73 and a twelve month high of $216.00. The company has a market cap of $26.07 billion, a price-to-earnings ratio of 28.36 and a beta of 1.07. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business posted $2.76 EPS. GoDaddy’s revenue was up 8.6% compared to the same quarter last year. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

Hedge funds have recently modified their holdings of the stock. Cornerstone Planning Group LLC increased its holdings in GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in GoDaddy during the 1st quarter valued at $27,000. Private Trust Co. NA increased its holdings in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in GoDaddy during the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA acquired a new stake in GoDaddy during the 1st quarter valued at $36,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GDDY shares. Piper Sandler upped their target price on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Jefferies Financial Group lowered their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 7th. UBS Group boosted their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Royal Bank of Canada lowered their price target on GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $214.86.

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.