GoDaddy (NYSE:GDDY) CFO Mark Mccaffrey Sells 3,958 Shares

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 3,958 shares of GoDaddy stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the sale, the chief financial officer owned 109,228 shares of the company’s stock, valued at approximately $9,815,228.08. This trade represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Mark Mccaffrey also recently made the following trade(s):

• On Monday, May 18th, Mark Mccaffrey sold 16 shares of GoDaddy stock. The shares were sold at an average price of $89.15, for a total value of $1,426.40.

GoDaddy Price Performance

Shares of GDDY traded up $0.89 during trading hours on Thursday, reaching $84.87. 3,525,584 shares of the company’s stock traded hands, compared to its average volume of 2,325,239. The stock has a market cap of $11.24 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The firm’s 50 day simple moving average is $85.54 and its 200-day simple moving average is $100.02. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $183.34.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.51 EPS. Equities analysts expect that GoDaddy Inc. will post 7.17 EPS for the current year.

Institutional Trading of GoDaddy

A number of hedge funds have recently bought and sold shares of GDDY. Norges Bank bought a new stake in GoDaddy in the 4th quarter worth approximately $250,020,000. AQR Capital Management LLC lifted its position in GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after purchasing an additional 1,615,005 shares during the last quarter. Ameriprise Financial Inc. lifted its position in GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after purchasing an additional 1,128,646 shares during the last quarter. Two Sigma Investments LP lifted its position in GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after purchasing an additional 814,360 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in GoDaddy by 318.6% in the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock valued at $100,632,000 after purchasing an additional 559,757 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. Jefferies Financial Group dropped their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Wells Fargo & Company boosted their target price on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Royal Bank Of Canada dropped their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Evercore set a $95.00 target price on GoDaddy in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.