Godaddy CFO Mark McCaffrey sells $185,048 in stock

Mark McCaffrey, the Chief Financial Officer of GoDaddy Inc. (NYSE:GDDY), recently sold shares of the company's Class A Common Stock, according to a recent SEC filing. The company, currently valued at $28.11 billion, has seen its stock surge nearly 88% over the past year, trading near its 52-week high at $200.91. According to InvestingPro analysis, the stock appears 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. The shares were sold at prices ranging from $141.71 to $201.29 per share.

These sales were made to satisfy McCaffrey's tax withholding obligations, incurred in connection with the vesting of Restricted Stock Units. Following these transactions, McCaffrey holds 83,254 shares of GoDaddy stock.

In other recent news, GoDaddy Inc. has successfully finalized a $1.46 billion refinancing deal, providing the company with enhanced financial flexibility. This move is part of GoDaddy's ongoing efforts to optimize its capital structure and reduce its cost of capital. In the realm 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, have revised their stock targets upwards, reflecting confidence in the company's growth trajectory. This follows GoDaddy's impressive third quarter financial performance, which saw a 7% year-over-year increase in total revenue, reaching $1.15 billion. Notably, the company'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. These recent developments are part of GoDaddy's broader internal optimization efforts, which are ongoing and still offer potential operational expenditure savings. The company also repurchased 5.2 million shares for $668 million, reducing gross shares outstanding by 23% since January 2022.

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