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

GoDaddy Inc. (NYSE:GDDY) Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

GoDaddy Price Performance

NYSE:GDDY opened at $185.28 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The business’s 50-day simple moving average is $161.46 and its two-hundred day simple moving average is $150.36. The stock has a market cap of $26.01 billion, a PE ratio of 14.32 and a beta of 1.11. GoDaddy Inc. has a 52 week low of $90.42 and a 52 week high of $190.21.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GDDY. Royal Bank of Canada increased their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler raised their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays raised their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Robert W. Baird raised their target price on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ascent Group LLC grew its position in shares of GoDaddy by 20.3% during the third quarter. Ascent Group LLC now owns 2,387 shares of the technology company’s stock valued at $374,000 after purchasing an additional 402 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of GoDaddy by 2.7% during the third quarter. Maverick Capital Ltd. now owns 9,358 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 246 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of GoDaddy by 25.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock valued at $90,150,000 after purchasing an additional 117,028 shares in the last quarter. Vinva Investment Management Ltd grew its position in shares of GoDaddy by 22.7% during the third quarter. Vinva Investment Management Ltd now owns 123,734 shares of the technology company’s stock valued at $19,303,000 after purchasing an additional 22,929 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after acquiring an additional 203,909 shares in the last quarter. Hedge funds and other institutional investors 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.