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

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $182.03, for a total value of $546,090.00. Following the completion of the sale, the chief executive officer now directly owns 437,947 shares of the company's stock, valued at approximately $79,719,492.41. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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 shares were sold at an average price of $179.85, for a total transaction of $539,550.00.

GoDaddy Stock Performance

GoDaddy stock traded up $2.54 during midday trading on Friday, reaching $182.93. 1,316,634 shares of the stock traded hands, compared to its average volume of 1,479,877. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 28.36 and a beta of 1.13. The firm has a fifty day moving average price of $179.34 and a two-hundred day moving average price of $189.41.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $2.76 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Royal Bank of Canada dropped their price objective on GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Benchmark reiterated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley dropped 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. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $214.86.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC lifted its holdings in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Norges Bank acquired a new stake in GoDaddy during the 4th quarter worth about $356,038,000. Goldman Sachs Group Inc. lifted its stake in GoDaddy by 257.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock valued at $402,946,000 after buying an additional 1,610,890 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in GoDaddy by 1,412.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock valued at $242,727,000 after buying an additional 1,258,324 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of GoDaddy by 107.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after buying an additional 719,000 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

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.