GoDaddy Inc. (NYSE:GDDY) CEO Sells $466,800.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the sale, the chief executive officer now owns 348,956 shares of the company’s stock, valued at approximately $54,297,553.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $166.91, for a total value of $500,730.00.
• On Thursday, August 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $146.48, for a total value of $439,440.00.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded down $0.52 during midday trading on Thursday, reaching $154.43. 582,034 shares of the company traded hands, compared to its average volume of 1,522,083. The firm’s fifty day moving average price is $156.06 and its two-hundred day moving average price is $141.22. The firm has a market capitalization of $22.04 billion, a price-to-earnings ratio of 12.85 and a beta of 1.13. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in GoDaddy during the fourth quarter valued at $28,000. Transcendent Capital Group LLC purchased a new position in GoDaddy during the second quarter worth about $28,000. GAMMA Investing LLC raised its holdings in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. ORG Partners LLC bought a new stake in shares of GoDaddy during the 2nd quarter valued at about $32,000. Finally, International Assets Investment Management LLC bought a new stake in shares of GoDaddy during the 2nd quarter valued at about $36,000. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GDDY shares. Piper Sandler restated a “neutral” rating and issued a $172.00 price objective (up previously from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Raymond James increased their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday. Finally, Royal Bank of Canada raised their price target on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.54.

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.