Key Points
- GoDaddy CFO Mark Mccaffrey sold 3,500 shares on June 8 at an average price of $82.92, generating about $290,220 and reducing his stake by 3.2%.
- The sale follows other recent insider transactions by Mccaffrey, including 3,958 shares sold on June 2 and a smaller sale on May 18.
- GoDaddy reported solid quarterly results with EPS of $1.60 and revenue of $1.27 billion, both slightly ahead of expectations, while analysts currently rate the stock a “Moderate Buy” with an average price target of $120.57.
GoDaddy Inc. (NYSE:GDDY - Get Free Report) CFO Mark Mccaffrey sold 3,500 shares of GoDaddy stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the sale, the chief financial officer owned 105,728 shares in the company, valued at approximately $8,766,965.76. This trade represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Mark Mccaffrey also recently made the following trade(s):
- On Tuesday, June 2nd, Mark Mccaffrey sold 3,958 shares of GoDaddy stock. The shares were sold at an average price of $89.86, for a total transaction of $355,665.88.
- 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 transaction of $1,426.40.
GoDaddy Stock Down 1.4%
Shares of NYSE GDDY opened at $80.42 on Thursday. The company's 50-day simple moving average is $85.68 and its 200-day simple moving average is $98.49. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $181.49. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.
GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 earnings per share. Equities analysts predict that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.
Hedge Funds Weigh In On GoDaddy
Institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GoDaddy during the fourth quarter worth about $25,000. Rachor Investment Advisory Services LLC purchased a new position in GoDaddy during the fourth quarter worth about $25,000. Activest Wealth Management raised its stake in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company's stock worth $25,000 after purchasing an additional 198 shares during the period. International Assets Investment Management LLC raised its stake in GoDaddy by 93.8% during the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company's stock worth $30,000 after purchasing an additional 180 shares during the period. Finally, Harbour Investments Inc. raised its stake in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company's stock worth $32,000 after purchasing an additional 170 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on GDDY. Jefferies Financial Group lowered their price target on shares of GoDaddy from $140.00 to $100.00 and set a "hold" rating on the stock in a research report on Monday, February 23rd. Benchmark lowered their price target on shares of GoDaddy from $195.00 to $185.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Citigroup lowered their price target on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. UBS Group began coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a "neutral" rating and a $100.00 price target on the stock. Finally, Royal Bank Of Canada lowered their price target on shares of GoDaddy from $200.00 to $100.00 and set an "outperform" rating on the stock 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.57.
Check Out Our Latest Stock Report on GoDaddy
About GoDaddy
(
Get Free Report)
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.
Further Reading
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