Insider Selling: GoDaddy Inc. (GDDY) Insider Sells $1,303,770.00 in Stock
GoDaddy Inc. (NYSE:GDDY) insider Barbara J. Rechterman sold 39,000 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $33.43, for a total value of $1,303,770.00. Following the transaction, the insider now directly owns 69,650 shares of the company’s stock, valued at approximately $2,328,399.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of GoDaddy Inc. (NYSE:GDDY) opened at 34.39 on Monday. The stock’s market capitalization is $3.01 billion. The stock’s 50 day moving average price is $34.92 and its 200-day moving average price is $32.42. GoDaddy Inc. has a 1-year low of $23.88 and a 1-year high of $36.96.
GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, November 2nd. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company earned $472.10 million during the quarter, compared to the consensus estimate of $470.07 million. GoDaddy had a negative return on equity of 2.14% and a negative net margin of 0.81%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Equities research analysts anticipate that GoDaddy Inc. will post ($0.03) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in GoDaddy by 96.0% in the second quarter. California State Teachers Retirement System now owns 98,327 shares of the company’s stock worth $3,067,000 after buying an additional 48,167 shares during the last quarter. Bank of New York Mellon Corp increased its stake in GoDaddy by 31.8% in the second quarter. Bank of New York Mellon Corp now owns 165,337 shares of the company’s stock worth $5,157,000 after buying an additional 39,890 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new stake in GoDaddy during the second quarter worth $8,287,000. Chicago Equity Partners LLC purchased a new stake in GoDaddy during the second quarter worth $290,000. Finally, American Century Companies Inc. purchased a new stake in GoDaddy during the second quarter worth $7,935,000.
Several research analysts recently weighed in on the company. B. Riley reaffirmed a “neutral” rating and set a $33.50 target price on shares of GoDaddy in a research note on Tuesday, November 8th. RBC Capital Markets reaffirmed an “outperform” rating and set a $38.00 target price (up previously from $37.00) on shares of GoDaddy in a research note on Thursday, August 4th. Royal Bank Of Canada raised their target price on GoDaddy from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Zacks Investment Research cut GoDaddy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 4th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $50.00 target price (up previously from $40.00) on shares of GoDaddy in a research note on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. GoDaddy has an average rating of “Buy” and an average target price of $39.18.
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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