Insider Selling: GoDaddy Inc. (GDDY) Insider Sells 35,000 Shares of Stock
GoDaddy Inc. (NYSE:GDDY) insider Barbara J. Rechterman sold 35,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $43.69, for a total value of $1,529,150.00. Following the sale, the insider now directly owns 50,427 shares in the company, valued at approximately $2,203,155.63. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of GoDaddy Inc. (GDDY) traded down 0.43% during trading on Thursday, reaching $43.75. The company’s stock had a trading volume of 1,743,891 shares. The company has a 50 day moving average of $43.88 and a 200 day moving average of $39.83. GoDaddy Inc. has a 12-month low of $31.63 and a 12-month high of $44.22. The company has a market cap of $4.87 billion, a PE ratio of 344.49 and a beta of 0.64.
GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.10. GoDaddy had a return on equity of 6.05% and a net margin of 1.21%. The business had revenue of $557.80 million for the quarter, compared to the consensus estimate of $551.26 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The business’s revenue was up 22.3% on a year-over-year basis. On average, analysts anticipate that GoDaddy Inc. will post $0.33 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of GoDaddy by 40.9% in the second quarter. FMR LLC now owns 10,839,221 shares of the technology company’s stock valued at $459,800,000 after acquiring an additional 3,148,349 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of GoDaddy by 26.8% in the second quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock valued at $320,434,000 after acquiring an additional 1,598,137 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of GoDaddy by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 6,206,386 shares of the technology company’s stock valued at $263,274,000 after acquiring an additional 387,731 shares in the last quarter. BlackRock Inc. lifted its position in shares of GoDaddy by 33.1% in the second quarter. BlackRock Inc. now owns 2,773,646 shares of the technology company’s stock valued at $117,659,000 after acquiring an additional 689,501 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of GoDaddy by 41.5% in the second quarter. Franklin Resources Inc. now owns 2,180,197 shares of the technology company’s stock valued at $92,484,000 after acquiring an additional 639,600 shares in the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.
A number of analysts recently issued reports on GDDY shares. Zacks Investment Research cut GoDaddy from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Barclays PLC increased their price objective on GoDaddy from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, July 19th. Cantor Fitzgerald reissued a “hold” rating on shares of GoDaddy in a report on Monday, June 26th. BidaskClub cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus set a $41.00 price objective on GoDaddy and gave the stock a “hold” rating in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. GoDaddy has a consensus rating of “Buy” and an average target price of $46.47.
GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It 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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