Amanpal Singh Bhutani Sells 3,000 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

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

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 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 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 value of $539,550.00.

GoDaddy Stock Down 1.1%

Shares of GDDY stock opened at $180.27 on Friday. The firm’s fifty day moving average price is $179.34 and its two-hundred day moving average price is $189.41. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 1 year low of $135.73 and a 1 year high of $216.00. The firm has a market capitalization of $25.69 billion, a P/E ratio of 27.95 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $2.76 EPS. GoDaddy’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GDDY shares. Jefferies Financial Group cut their price objective on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Barclays reduced their price target on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their price objective on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Wall Street Zen cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $214.86.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company’s stock valued at $3,266,697,000 after buying an additional 462,807 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in GoDaddy by 11.6% in the fourth 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 acquiring an additional 395,160 shares during the last quarter. Geode Capital Management LLC grew its position in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after acquiring an additional 90,810 shares during the period. WCM Investment Management LLC grew its position in shares of GoDaddy by 2.0% in the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company’s stock valued at $620,931,000 after acquiring an additional 67,152 shares during the period. Finally, Invesco Ltd. increased its stake in shares of GoDaddy by 13.8% during the 1st quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company’s stock worth $597,317,000 after purchasing an additional 401,918 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.