Insider Selling: GoDaddy (NYSE:GDDY) CEO Sells 8,373 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the sale, the chief executive officer owned 521,747 shares of the company’s stock, valued at $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

GoDaddy Trading Up 1.1%

Shares of GoDaddy stock traded up $0.89 during trading on Thursday, hitting $84.87. The stock had a trading volume of 3,525,584 shares, compared to its average volume of 2,325,239. The firm’s fifty day simple moving average is $85.54 and its 200-day simple moving average is $100.02. The stock has a market cap of $11.24 billion, a PE ratio of 13.43, a PEG ratio of 0.80 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $183.34.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.51 EPS. As a group, sell-side analysts expect that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently modified their holdings of GDDY. Norges Bank bought a new stake in shares of GoDaddy in the 4th quarter valued at about $250,020,000. AQR Capital Management LLC raised its holdings in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after purchasing an additional 1,615,005 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after purchasing an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after purchasing an additional 814,360 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of GoDaddy by 318.6% in the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock valued at $100,632,000 after purchasing an additional 559,757 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Evercore set a $95.00 price objective on shares of GoDaddy in a report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Jefferies Financial Group decreased their price objective on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Finally, Benchmark decreased their price objective on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.57.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.