Vertex Pharmaceuticals stock falls after pain drug fails in Phase 2 study
TEMPE, Ariz.—GoDaddy Inc. (NYSE:GDDY) Chief Financial Officer Mark McCaffrey recently sold 5,500 shares of the company's Class A common stock, according to a filing with the Securities and Exchange Commission. The company, currently valued at $27.9 billion, has demonstrated strong financial performance with an "GREAT" overall health score according to InvestingPro analysis. The shares were sold at an average price of $199.01 each, amounting to a total transaction value of approximately $1.09 million. Following this sale, McCaffrey retains ownership of 84,300 shares in the company. The transaction was conducted under a pre-arranged 10b5-1 trading plan. The stock has shown remarkable strength, posting a 98.9% return over the past year and trading near its 52-week high of $211.11. Based on comprehensive analysis available through InvestingPro's detailed research reports, the stock appears to be trading above its Fair Value.
In other recent news, GoDaddy Inc. has successfully completed a $1.46 billion refinancing deal, strengthening its capital structure. This strategic financial move comes at a crucial time for the company's liquidity management. Recent developments also highlight several analyst firms, including Baird, RBC Capital Markets, JPMorgan, and Oppenheimer, revising their stock targets upwards for GoDaddy, reflecting confidence in the company's growth trajectory. This follows GoDaddy's strong third quarter financial performance, which saw a 7% year-over-year increase in total revenue, reaching $1.15 billion. Notably, GoDaddy's Applications & Commerce segment experienced a 16% growth in revenue. In terms of personnel changes, GoDaddy appointed Phontip Palitwanon as the new Chief Accounting Officer following a restructuring within the accounting department. The company also repurchased 5.2 million shares for $668 million, reducing gross shares outstanding by 23% since January 2022. These are recent developments that investors should be aware of.
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