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 GoDaddy stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $539,550.00. Following the completion of the transaction, the chief executive officer now owns 443,947 shares in the company, valued at approximately $79,843,867.95. This represents a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were sold at an average price of $180.66, for a total transaction of $541,980.00.
• On Monday, February 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00.

GoDaddy Price Performance

GDDY stock traded up $1.41 during mid-day trading on Tuesday, reaching $163.89. 548,015 shares of the company traded hands, compared to its average volume of 1,438,171. The company has a fifty day moving average price of $186.12 and a 200-day moving average price of $185.27. GoDaddy Inc. has a 52-week low of $119.76 and a 52-week high of $216.00. The company has a market capitalization of $23.17 billion, a P/E ratio of 25.32 and a beta of 1.19. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

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GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors have recently made changes to their positions in the business. State Street Corp raised its holdings in GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after buying an additional 147,105 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $751,778,000 after purchasing an additional 395,160 shares in the last quarter. Geode Capital Management LLC increased its position in shares of GoDaddy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after buying an additional 90,810 shares during the period. WCM Investment Management LLC raised its stake in 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 worth $678,941,000 after buying an additional 3,356,678 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in GoDaddy by 11.6% in the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after buying an additional 304,033 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Benchmark increased their target price on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Citigroup boosted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Raymond James raised their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.20.

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.