Insider Selling: GoDaddy Inc. (NYSE:GDDY) CEO Sells 3,000 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $182.03, for a total value of $546,090.00. Following the transaction, the chief executive officer now directly owns 437,947 shares in the company, valued at $79,719,492.41. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Amanpal Singh Bhutani also recently made the following trade(s):

• On Tuesday, June 3rd, Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock. The stock was sold at an average price of $179.81, for a total transaction of $1,246,442.92.
• On Thursday, May 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $190.86, for a total transaction of $572,580.00.
• On Tuesday, April 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00.

GoDaddy Stock Down 1.1%

Shares of NYSE GDDY opened at $180.27 on Friday. The stock has a market capitalization of $25.69 billion, a P/E ratio of 27.95 and a beta of 1.13. The stock’s fifty day moving average is $179.34 and its 200 day moving average is $189.41. GoDaddy Inc. has a 52 week low of $135.73 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business earned $2.76 earnings per share. GoDaddy’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company’s stock valued at $3,266,697,000 after buying an additional 462,807 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock valued at $751,778,000 after acquiring an additional 395,160 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after acquiring an additional 90,810 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 2.0% during the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company’s stock valued at $620,931,000 after acquiring an additional 67,152 shares in the last quarter. Finally, Invesco Ltd. grew its position in GoDaddy by 13.8% during the 1st quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company’s stock worth $597,317,000 after acquiring an additional 401,918 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GDDY. UBS Group increased their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Jefferies Financial Group lowered their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. Morgan Stanley reduced their price target on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.86.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.