Mark Mccaffrey Sells 915 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

Posted by Defense World Staff on Apr 8th, 2023

GoDaddy Inc. (NYSE:GDDY – Get Rating) CFO Mark Mccaffrey sold 915 shares of the firm’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $77.41, for a total transaction of $70,830.15. Following the sale, the chief financial officer now owns 93,191 shares in the company, valued at $7,213,915.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

On Thursday, March 9th, Mark Mccaffrey sold 5,000 shares of GoDaddy stock. The stock was sold at an average price of $75.81, for a total transaction of $379,050.00.
On Thursday, March 2nd, Mark Mccaffrey sold 3,247 shares of GoDaddy stock. The stock was sold at an average price of $74.96, for a total transaction of $243,395.12.

GoDaddy Price Performance

GoDaddy stock opened at $76.51 on Friday. The firm has a market capitalization of $11.77 billion, a PE ratio of 34.78, a P/E/G ratio of 1.91 and a beta of 0.98. The company’s 50-day moving average is $77.12 and its 200-day moving average is $75.83. GoDaddy Inc. has a fifty-two week low of $64.65 and a fifty-two week high of $88.32.

GoDaddy (NYSE:GDDY – Get Rating) last announced its earnings results on Tuesday, February 14th. The technology company reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. GoDaddy had a net margin of 8.61% and a negative return on equity of 93.48%. As a group, analysts expect that GoDaddy Inc. will post 2.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GDDY. Citigroup started coverage on shares of GoDaddy in a report on Tuesday, December 13th. They set a “buy” rating and a $95.00 price objective on the stock. Evercore ISI upgraded shares of GoDaddy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $86.00 to $103.00 in a research note on Wednesday, January 18th. Barclays lowered their price target on shares of GoDaddy from $104.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 15th. Raymond James lifted their price target on shares of GoDaddy from $88.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 15th. Finally, Piper Sandler lowered shares of GoDaddy from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $100.00 to $88.00 in a research note on Tuesday, March 21st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $93.56.

Institutional Trading of GoDaddy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of GoDaddy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock worth $1,356,131,000 after buying an additional 107,949 shares during the period. Starboard Value LP boosted its holdings in shares of GoDaddy by 23.9% during the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after buying an additional 1,973,118 shares during the period. Morgan Stanley boosted its holdings in shares of GoDaddy by 517.4% during the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock worth $458,311,000 after buying an additional 5,133,332 shares during the period. State Street Corp boosted its holdings in GoDaddy by 2.3% in the 1st quarter. State Street Corp now owns 3,941,457 shares of the technology company’s stock valued at $329,900,000 after purchasing an additional 90,041 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in GoDaddy by 11.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,132,628 shares of the technology company’s stock valued at $159,563,000 after purchasing an additional 214,222 shares during the period. Institutional investors own 97.32% of the company’s stock.

About GoDaddy

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GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. It operates through the Applications and Commerce (A and C) and Core Platform (Core) segments. The A and C segment consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions.