Insider Selling: GoDaddy Inc. (NYSE:GDDY) CEO Sells 6,932 Shares of Stock

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $1,246,442.92. Following the completion of the transaction, the chief executive officer now owns 431,015 shares in the company, valued at approximately $77,500,807.15. This represents a 1.58% decrease in their position. The transaction was disclosed in a document filed 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 transaction of $539,550.00.

GoDaddy Stock Performance

Shares of GoDaddy stock traded down $2.02 on Thursday, reaching $180.27. The stock had a trading volume of 2,105,154 shares, compared to its average volume of 1,480,526. The stock has a market cap of $25.69 billion, a P/E ratio of 27.95 and a beta of 1.13. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00. The business's 50-day moving average price is $179.34 and its two-hundred day moving average price is $189.41. 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 - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 EPS. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays dropped their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. B. Riley increased their price target on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Jefferies Financial Group decreased their price target on shares of 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 decreased their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Seven 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 stock. According to MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and an average price target of $214.86.

Institutional Trading of GoDaddy

Hedge funds have recently modified their holdings of the company. WCM Investment Management LLC grew its stake in shares of GoDaddy by 7,083.4% in 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 buying an additional 3,356,678 shares in the last quarter. Norges Bank bought a new position in shares of GoDaddy in the fourth quarter worth $356,038,000. Goldman Sachs Group Inc. grew its position 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 during the last quarter. Assenagon Asset Management S.A. grew its position 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 valued at $242,727,000 after acquiring an additional 1,258,324 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in 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 valued at $273,582,000 after acquiring an additional 719,000 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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