GoDaddy (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 4,500 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $83.15, for a total value of $374,175.00. Following the completion of the transaction, the chief executive officer directly owned 517,247 shares in the company, valued at $43,009,088.05. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amanpal Singh Bhutani also recently made the following trade(s):

• On Tuesday, June 2nd, Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78.

GoDaddy Trading Up 2.9%

NYSE GDDY opened at $91.68 on Thursday. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.80 and a beta of 0.90. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.67 and a current ratio of 0.63. GoDaddy Inc. has a one year low of $71.59 and a one year high of $157.40. The company’s 50 day moving average price is $86.71 and its 200 day moving average price is $88.24.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. GoDaddy’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that GoDaddy Inc. will post 7.21 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group started coverage on GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target for the company. Raymond James Financial downgraded GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 target price for the company. in a research report on Friday, July 31st. William Blair lowered GoDaddy from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Wells Fargo & Company dropped their target price on GoDaddy from $83.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Finally, B. Riley Financial reduced their price target on GoDaddy from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.33.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. Norges Bank acquired a new stake in GoDaddy in the fourth quarter valued at $250,020,000. AQR Capital Management LLC boosted its stake in GoDaddy by 117.5% during 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 acquiring an additional 1,615,005 shares during the last quarter. Two Sigma Investments LP grew its holdings in GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after acquiring an additional 814,360 shares in the last quarter. Swedbank AB increased its position in shares of GoDaddy by 433.9% in the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after purchasing an additional 524,811 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of GoDaddy by 67.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock worth $155,968,000 after purchasing an additional 504,374 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy News Roundup

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Momentum remains a supporting factor. Zacks highlighted GoDaddy as a strong momentum stock, suggesting favorable recent trading and/or market-performance characteristics. Here’s Why GoDaddy Is a Strong Momentum Stock
• Neutral Sentiment: Management will present to investors on Aug. 11. CFO Mark McCaffrey is scheduled to speak at the Oppenheimer Technology, Internet & Communications Conference, creating a potential opportunity for GoDaddy to discuss business trends and outlook. GoDaddy Conference Presentation
• Neutral Sentiment: CEO Amanpal Singh Bhutani sold 4,500 shares. The approximately $374,000 sale reduced his holdings by 0.86% and was conducted under a pre-arranged Rule 10b5-1 trading plan, which makes it a limited signal of his current outlook. SEC Insider Trading Filing
• Negative Sentiment: Analysts expressed greater caution. Wedbush issued a pessimistic forecast, while Citigroup lowered its expectations for GoDaddy’s stock, potentially weighing on valuation and investor confidence. Wedbush Forecast Citigroup Expectations
• Negative Sentiment: Law firms announced investigations into potential securities-law violations. Rosen Law Firm and Kaplan Fox said they are investigating allegations that GoDaddy may have provided materially misleading business information. These announcements do not establish wrongdoing, but they add litigation and reputational risk and may increase volatility. Rosen Law Firm Investigation Kaplan Fox Investigation

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.