GoDaddy Inc. (NYSE:GDDY) CAO Sells $386,511.51 in Stock

GoDaddy Inc. (NYSE:GDDY) CAO Phontip Palitwanon sold 2,173 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the sale, the chief accounting officer now owns 21,198 shares in the company, valued at $3,770,488.26. The trade was a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, June 3rd, Phontip Palitwanon sold 684 shares of GoDaddy stock. The shares were sold at an average price of $179.81, for a total value of $122,990.04.
• 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 Trading Down 1.2%

Shares of GoDaddy stock opened at $175.57 on Friday. The business has a fifty day simple moving average of $179.95 and a two-hundred day simple moving average of $188.94. GoDaddy Inc. has a 1 year low of $135.73 and a 1 year high of $216.00. The company has a market capitalization of $25.02 billion, a price-to-earnings ratio of 27.22 and a beta of 1.07. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GDDY shares. Barclays lowered their price target on GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. B. Riley boosted their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Wall Street Zen lowered GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Piper Sandler boosted their price target on GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $214.86.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently added to or reduced their stakes in GDDY. Norges Bank acquired a new stake in GoDaddy during the 4th quarter valued at $356,038,000. Goldman Sachs Group Inc. increased its position in GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock worth $402,946,000 after buying an additional 1,610,890 shares during the period. Assenagon Asset Management S.A. increased its position in GoDaddy by 1,412.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company’s stock worth $242,727,000 after buying an additional 1,258,324 shares during the period. Canada Pension Plan Investment Board increased its position in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock worth $273,582,000 after buying an additional 719,000 shares during the period. Finally, JPMorgan Chase & Co. increased its position in GoDaddy by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company’s stock worth $439,525,000 after buying an additional 710,842 shares during the period. 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.