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 GoDaddy stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $539,550.00. Following the sale, the chief executive officer now owns 443,947 shares in the company, valued at $79,843,867.95. This trade represents a 0.67 % decrease in their position. The transaction 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 Monday, March 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $180.66, for a total value of $541,980.00.
• On Monday, February 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $207.70, for a total value of $623,100.00.

GoDaddy Price Performance

GDDY stock traded down $3.05 during trading on Thursday, hitting $177.45. The stock had a trading volume of 1,838,558 shares, compared to its average volume of 1,429,155. GoDaddy Inc. has a 1-year low of $119.76 and a 1-year high of $216.00. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 27.51 and a beta of 1.25. The company’s 50 day moving average price is $188.41 and its two-hundred day moving average price is $184.78. 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 announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GDDY. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Jefferies Financial Group boosted their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC boosted its stake in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after buying an additional 3,356,678 shares during the last quarter. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter worth approximately $356,038,000. Canada Pension Plan Investment Board boosted its position 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 acquiring an additional 719,000 shares during the last quarter. Congress Asset Management Co. purchased a new stake in GoDaddy in the fourth quarter valued at approximately $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in GoDaddy by 88.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock worth $213,630,000 after purchasing an additional 507,374 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.