Amanpal Singh Bhutani Sells 6,000 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CEO Amanpal Singh Bhutani sold 6,000 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $176.93, for a total transaction of $1,061,580.00. Following the sale, the chief executive officer owned 425,015 shares in the company, valued at $75,197,903.95. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $179.81, for a total transaction of $1,246,442.92.
• 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 transaction of $546,090.00.
• On Thursday, May 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00.

GoDaddy Stock Up 1.1%

Shares of NYSE:GDDY traded up $1.94 during trading hours on Friday, hitting $177.37. The company's stock had a trading volume of 1,157,221 shares, compared to its average volume of 1,331,922. GoDaddy Inc. has a 52 week low of $140.11 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $25.27 billion, a price-to-earnings ratio of 34.11 and a beta of 1.05. The firm's fifty day moving average price is $181.62 and its 200 day moving average price is $186.03.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.76 earnings per share. As a group, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GDDY shares. Citigroup dropped their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Barclays lowered their target price on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a report on Monday, June 23rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

Institutional Investors Weigh In On GoDaddy

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $356,038,000. Goldman Sachs Group Inc. boosted its stake in GoDaddy by 257.3% in 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 acquiring an additional 1,610,890 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in GoDaddy by 1,412.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after purchasing an additional 1,258,324 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of GoDaddy by 107.8% during 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 purchasing an additional 719,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of GoDaddy by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after purchasing an additional 710,842 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.