Barbara J. Rechterman Sells 35,000 Shares of GoDaddy Inc. (GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) insider Barbara J. Rechterman sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $46.54, for a total value of $1,628,900.00. Following the completion of the sale, the insider now directly owns 50,427 shares in the company, valued at approximately $2,346,872.58. The sale was disclosed in a legal filing with the SEC, which is available through this link.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.13 earnings per share 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 company had revenue of $557.80 million for the quarter, compared to the consensus estimate of $551.26 million. During the same quarter last year, the business posted ($0.11) EPS. GoDaddy’s revenue for the quarter was up 22.3% on a year-over-year basis.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. FMR LLC boosted its holdings in shares of GoDaddy by 40.9% during the 2nd 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. boosted its holdings in shares of GoDaddy by 26.8% during the 2nd 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. Marshall Wace North America L.P. boosted its holdings in shares of GoDaddy by 280.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 2,134,170 shares of the technology company’s stock valued at $89,635,000 after acquiring an additional 1,573,572 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of GoDaddy by 273.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,241,565 shares of the technology company’s stock valued at $52,668,000 after acquiring an additional 908,685 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of GoDaddy by 48.2% during the 3rd quarter. First Trust Advisors LP now owns 2,634,529 shares of the technology company’s stock valued at $114,628,000 after acquiring an additional 856,259 shares in the last quarter. 78.75% of the stock is currently owned by institutional investors.

GDDY has been the topic of several recent analyst reports. William Blair initiated coverage on GoDaddy in a research note on Thursday, October 5th. They issued an “outperform” rating on the stock. BidaskClub lowered GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reissued an “outperform” rating on shares of GoDaddy in a research note on Saturday, August 26th. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price objective on shares of GoDaddy in a research note on Wednesday, September 20th. Finally, Zacks Investment Research lowered GoDaddy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. GoDaddy presently has an average rating of “Buy” and a consensus target price of $47.46.

GoDaddy Company Profile

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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