GoDaddy Inc. (NYSE:GDDY) CEO Sells $1,246,442.92 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the sale, the chief executive officer now directly owns 431,015 shares of the company’s stock, valued at approximately $77,500,807.15. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, June 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $182.03, for a total value of $546,090.00.
• 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 value of $572,580.00.
• On Tuesday, April 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $179.85, for a total value of $539,550.00.

GoDaddy Trading Up 1.4%

Shares of GDDY opened at $182.93 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 12-month low of $135.73 and a 12-month high of $216.00. The firm has a 50-day moving average price of $179.39 and a 200 day moving average price of $189.38. The firm has a market capitalization of $26.07 billion, a P/E ratio of 28.36 and a beta of 1.07.

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

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Royal Bank of Canada cut their price objective on GoDaddy from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. UBS Group boosted their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $214.86.

GoDaddy Company Profile

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.