Insider Selling: Lau Michele, GoDaddy Inc. [GDDY] Chief Legal Officer divested 7,274 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. GoDaddy Inc. shares valued at $537,421 were sold by Lau Michele on Aug 02. At $73.88 per share, Lau Michele sold 7,274 shares. The insider’s holdings dropped to 63,009 shares worth approximately $4.88 million following the completion of this transaction.

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Also, Daddario Nick sold 90 shares, netting a total of over 6,649 in proceeds. Following the sale of shares at $73.88 each, the insider now holds 16,008 shares.

Before that, Bhutani Amanpal Singh had sold 1,991 shares from its account. In a trade valued at $139,097, the Chief Executive Officer traded GoDaddy Inc. shares for $69.86 each. Upon closing the transaction, the insider’s holdings decreased to 1,991 shares, worth approximately $17.09 million.

As published in a research note from Piper Sandler on April 25, 2022, GoDaddy Inc. [GDDY] has been rated up from a Neutral to an Overweight and the price target has been revised to $110 from $94. This represents a 29.55% premium over Thursday’s closing price. Analysts at The Benchmark Company started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of October 25, 2021, Berenberg has initiated its “Buy” rating for GDDY. Earlier on August 05, 2021, Rosenblatt downgraded its rating. Their new recommendation was “a Neutral” for GDDY stock which previously was a “a Buy”.

Analyzing GDDY’s Price Performance

On Thursday, GoDaddy Inc. [NYSE: GDDY] rose 2.54% to $77.49. The stock’s lowest price that day was $75.75, but it reached a high of $80.00 in the same session. During the last five days, there has been a surge of approximately 6.75%. Over the course of the year, GoDaddy Inc. shares have dropped approximately -8.68%. Shares of the company reached a 52-week high of $88.32 on 04/14/22 and a 52-week low of $64.81 on 06/17/22. A 50-day SMA is recorded $71.55, while a 200-day SMA reached $75.50. Nevertheless, trading volume fell to 1.05 million shares from 0.66 million shares the previous day.

Support And Resistance Levels for GoDaddy Inc. (GDDY)

According to the 24-hour chart, there is a support level at 75.49, which, if violated, would cause prices to drop to 73.50. In the upper region, resistance lies at 79.74. The next price resistance is at 82.00. RSI (Relative Strength Index) is 63.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.10, which suggests the price will increase in the coming days. Percent R is at 25.02%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is GoDaddy Inc. subject to short interest?

Stocks of GoDaddy Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.95 million shares to 2.67 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.62 million shares. A decline of -73.03% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.47 of the overall float, the days-to-cover ratio (short ratio) decline to 2.47.

Which companies own the most shares of GoDaddy Inc. (GDDY)?

According to The Vanguard Group, Inc. filings, the company currently owns 15,875,453 shares, which is about 9.82% of the total GDDY shares outstanding. The investor’s shares have appreciated by 133,422 from its previous 13-F filing of 15742031.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $1,055,921,496. Wellington Management Co. LLP acquire a 28.53% interest valued at $956.77 million while Starboard Value LP purchased a 1,459,021 stake. A total of -689,290 shares of GoDaddy Inc. were bought by Fidelity Management & Research Co during the quarter, and -68,506 were sold by Janus Henderson Investors US LLC. In its current portfolio, BlackRock Fund Advisors holds 5,819,890 shares valued at $404.83 million.

In terms of GoDaddy Inc. share price expectations, FactSet research, analysts set an average price target of $101.22 in the next 12 months, up nearly 32.33% from the previous closing price of $75.57. Analysts anticipate GoDaddy Inc. stock to reach $112.00 by 2022, with the lowest price target being $91.00. In spite of this, 11 analysts ranked GoDaddy Inc. stock as an Overweight at the end of 2022. On August 05, 2021, Piper Sandler assigned a price target of “a Neutral” to the stock and downgraded coverage with a $85.


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