Mark McCaffrey, Chief Financial Officer of GoDaddy Inc. (NYSE: ), recently sold shares of the company’s Class A Common Stock, according to a recent filing with the SEC. The company, which is currently valued at $28.11 billion, has seen shares rise nearly 88% over the past year, trading near a 52-week high of $200.91. According to InvestingPro analysis, the stock appears to be slightly overvalued at current levels. The transactions, which took place on July 2, 2024 and January 6, 2025, involved the sale of a total of 1,104 shares, amounting to $185,048. Shares were traded at prices ranging from $141.71 to $201.29 per share.
These sales were made to satisfy McCaffrey’s withholding tax obligations incurred in connection with the grant of Restricted Stock Units. Following these transactions, McCaffrey holds 83,254 shares of GoDaddy stock.
In other recent news, GoDaddy Inc. successfully finalized a $1.46 billion refinancing agreement, providing the company with increased financial flexibility. The move is part of GoDaddy’s ongoing efforts to optimize its capital structure and reduce its cost of capital. In the area of mergers and acquisitions, GoDaddy’s subsidiaries, Go Daddy Operating Company, LLC and GD Finance Co, LLC, have entered into a twelfth amendment to their credit agreement, securing a new tranche of term loans.
Several analyst firms, including Baird, RBC Capital Markets, JPMorgan and Oppenheimer, revised their targets for the stock upward, reflecting confidence in the company’s growth trajectory. This follows GoDaddy’s impressive third-quarter financial results, which saw total revenue increase 7% year-over-year to $1.15 billion. Namely, the application and store segment of the company saw revenue growth of 16%.
In terms of personnel changes, GoDaddy has named Phontip Palitwanon as the new Chief Accounting Officer following a restructuring within the accounting department. These recent developments are part of GoDaddy’s broader internal optimization efforts, which are ongoing and still offer potential operational cost savings. The company also repurchased 5.2 million shares for $668 million, reducing gross shares outstanding by 23% as of January 2022.
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