Insider Selling: Godaddy Inc (GDDY) Insider Sells 1,144 Shares of Stock

Godaddy Inc (NYSE:GDDY) insider Nima Kelly sold 1,144 shares of Godaddy stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $75.73, for a total transaction of $86,635.12. Following the transaction, the insider now directly owns 118,451 shares in the company, valued at $8,970,294.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Nima Kelly also recently made the following trade(s):

  • On Friday, March 8th, Nima Kelly sold 683 shares of Godaddy stock. The shares were sold at an average price of $72.43, for a total transaction of $49,469.69.
  • On Monday, March 11th, Nima Kelly sold 1,683 shares of Godaddy stock. The shares were sold at an average price of $73.02, for a total transaction of $122,892.66.
  • On Thursday, February 28th, Nima Kelly sold 1,564 shares of Godaddy stock. The shares were sold at an average price of $75.87, for a total transaction of $118,660.68.

Shares of NYSE GDDY traded up $0.22 during trading on Friday, reaching $75.39. 1,537,197 shares of the stock were exchanged, compared to its average volume of 1,558,271. Godaddy Inc has a twelve month low of $56.67 and a twelve month high of $84.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.90. The stock has a market cap of $13.16 billion, a P/E ratio of 119.67, a PEG ratio of 5.37 and a beta of 0.66.

Godaddy (NYSE:GDDY) last posted its earnings results on Wednesday, February 20th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. Godaddy had a net margin of 2.90% and a return on equity of 11.91%. The business had revenue of $696.00 million for the quarter, compared to analysts’ expectations of $693.41 million. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, research analysts expect that Godaddy Inc will post 0.82 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of GDDY. Bank of New York Mellon Corp increased its stake in shares of Godaddy by 27.3% in the second quarter. Bank of New York Mellon Corp now owns 579,635 shares of the technology company’s stock worth $40,922,000 after buying an additional 124,291 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Godaddy by 27.0% in the third quarter. Russell Investments Group Ltd. now owns 50,914 shares of the technology company’s stock worth $4,245,000 after buying an additional 10,813 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Godaddy in the third quarter worth $16,836,000. Private Advisor Group LLC bought a new stake in shares of Godaddy in the third quarter worth $608,000. Finally, Comerica Bank increased its stake in shares of Godaddy by 349.6% in the third quarter. Comerica Bank now owns 26,222 shares of the technology company’s stock worth $1,947,000 after buying an additional 20,390 shares during the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on GDDY shares. Citigroup lifted their price target on shares of Godaddy from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. Morgan Stanley lifted their price target on shares of Godaddy from $88.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, February 21st. Barclays boosted their target price on shares of Godaddy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, February 21st. Piper Jaffray Companies reissued an “overweight” rating and set a $97.00 target price on shares of Godaddy in a research report on Thursday, February 21st. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Godaddy from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $85.17.

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Godaddy Company Profile

GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally. It provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting products, such as shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.

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