Insider Selling: GoDaddy (NYSE:GDDY) CFO Sells 3,500 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CFO Mark Mccaffrey sold 3,500 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.92, for a total transaction of $290,220.00. Following the sale, the chief financial officer owned 105,728 shares of the company’s stock, valued at $8,766,965.76. This trade represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, June 2nd, Mark Mccaffrey sold 3,958 shares of GoDaddy stock. The stock was 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 stock was sold at an average price of $89.15, for a total transaction of $1,426.40.

GoDaddy Stock Performance

NYSE GDDY traded down $1.15 during trading hours on Wednesday, hitting $80.42. 1,828,299 shares of the stock were exchanged, compared to its average volume of 2,877,692. The company 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. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $181.49. The stock has a 50-day moving average of $85.68 and a 200 day moving average of $98.49. 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) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. As a group, equities research analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rachor Investment Advisory Services LLC purchased a new position in GoDaddy in the fourth quarter valued at about $25,000. Activest Wealth Management increased its holdings in GoDaddy by 6,600.0% in the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GoDaddy in the fourth quarter valued at about $25,000. Brown Brothers Harriman & Co. increased its holdings in GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after buying an additional 150 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after buying an additional 170 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on GDDY. Royal Bank Of Canada cut their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Citigroup cut their price target on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Jefferies Financial Group cut their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Cantor Fitzgerald cut their price target on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.