GoDaddy Inc. (GDDY) Insider Sells $1,390,740.00 in Stock
GoDaddy Inc. (NYSE:GDDY) insider Barbara J. Rechterman sold 39,000 shares of the business’s stock in a transaction dated Wednesday, October 12th. The shares were sold at an average price of $35.66, for a total value of $1,390,740.00. Following the completion of the sale, the insider now directly owns 69,650 shares of the company’s stock, valued at $2,483,719. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of GoDaddy Inc. (NYSE:GDDY) opened at 35.88 on Friday. The firm’s market capitalization is $5.46 billion. GoDaddy Inc. has a 52-week low of $23.88 and a 52-week high of $36.03. The firm has a 50-day moving average price of $33.79 and a 200-day moving average price of $31.86.
GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, August 3rd. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. GoDaddy had a negative net margin of 1.26% and a negative return on equity of 3.30%. The company earned $456.20 million during the quarter, compared to the consensus estimate of $450.51 million. During the same quarter in the previous year, the business posted ($0.46) EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy Inc. will post ($0.04) EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Technology Crossover Management VII Ltd. raised its position in GoDaddy by 194.2% in the second quarter. Technology Crossover Management VII Ltd. now owns 14,267,080 shares of the company’s stock valued at $444,990,000 after buying an additional 9,418,073 shares during the period. FMR LLC raised its position in GoDaddy by 60.4% in the second quarter. FMR LLC now owns 12,238,511 shares of the company’s stock valued at $381,719,000 after buying an additional 4,609,309 shares during the period. JPMorgan Chase & Co. raised its position in GoDaddy by 399.7% in the second quarter. JPMorgan Chase & Co. now owns 6,208,234 shares of the company’s stock valued at $193,636,000 after buying an additional 4,965,848 shares during the period. Vanguard Group Inc. raised its position in GoDaddy by 60.8% in the second quarter. Vanguard Group Inc. now owns 4,725,249 shares of the company’s stock valued at $147,381,000 after buying an additional 1,786,473 shares during the period. Finally, RS Investment Management Co. LLC raised its position in GoDaddy by 19.7% in the second quarter. RS Investment Management Co. LLC now owns 1,311,389 shares of the company’s stock valued at $40,902,000 after buying an additional 215,732 shares during the period.
Several brokerages recently weighed in on GDDY. Zacks Investment Research lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Summit Redstone assumed coverage on GoDaddy in a report on Monday, October 3rd. They set a “buy” rating and a $41.00 target price for the company. Piper Jaffray Cos. set a $40.00 target price on GoDaddy and gave the company a “buy” rating in a report on Monday, September 19th. B. Riley reaffirmed a “neutral” rating and set a $33.50 target price on shares of GoDaddy in a report on Tuesday, August 9th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $38.00 target price (up from $37.00) on shares of GoDaddy in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. GoDaddy currently has an average rating of “Buy” and a consensus target price of $37.63.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. The Company operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.
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