TEMPE, Ariz.—Jared F. Sine, the Chief Strategy & Legal Officer at GoDaddy Inc. (NYSE:GDDY), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Sine sold 17 shares of Class A Common Stock on November 15, 2024, at a price of $183.0244 per share, amounting to a total transaction value of $3,111.
The sale was executed to satisfy tax withholding obligations incurred under GoDaddy's 2015 Employee Stock Purchase Plan (ESPP). Following this transaction, Sine retains ownership of 68,891 shares, which includes 166 shares acquired through the ESPP on the same day.
This transaction is part of routine financial management and does not necessarily indicate a change in Sine's confidence in the company's prospects. GoDaddy, headquartered in Tempe, Arizona, continues to be a prominent player in the computer integrated systems design industry.
In other recent news, GoDaddy Inc. has seen a robust financial performance, with a 7% year-over-year increase in total revenue for the third quarter, reaching $1.15 billion. The firm's Applications & Commerce segment saw a 16% growth in revenue, prompting the company to raise its full-year revenue guidance. Baird, a financial services firm, reiterated its Outperform rating on GoDaddy, lifting the price target to $225 from the previous $200, reflecting confidence in the company's direction and growth potential.
GoDaddy recently appointed Phontip Palitwanon as the new Chief Accounting Officer, following a restructuring within the accounting department. The company also introduced a generative AI-powered conversational bot, improving customer service efficiency, and launched a new product offering, Airo, which has engaged nearly 3 million customers.
Despite expecting tougher comparisons for Applications & Commerce's annual recurring revenue in Q4 and 2025, GoDaddy remains optimistic. The company plans to increase marketing investments for broader Airo launches and focus on pricing, bundling, and customer value enhancement. These developments are part of the recent news surrounding GoDaddy Inc.
InvestingPro Insights
GoDaddy's recent stock performance and financial metrics provide additional context to Jared F. Sine's recent share transaction. According to InvestingPro data, GoDaddy's stock has shown remarkable strength, with a 99.74% price total return over the past year and a 74.28% return year-to-date. This impressive performance has pushed the stock to trade near its 52-week high, with the current price at 98.52% of that peak.
The company's financial health appears robust, with a market capitalization of $26.3 billion and a revenue of $4.48 billion over the last twelve months as of Q3 2024. GoDaddy's profitability is also noteworthy, with a gross profit margin of 63.57% and an operating income margin of 19.5% for the same period.
InvestingPro Tips highlight that GoDaddy has been profitable over the last twelve months and analysts predict continued profitability this year. However, the stock's strong performance has led to relatively high valuation multiples, with the company trading at elevated EBIT and EBITDA multiples.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for GoDaddy, providing a deeper understanding of the company's financial position and market outlook.
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