Insider Selling: GoDaddy Inc. (NYSE:GDDY) CEO Sells $500,730.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at $59,882,801.43. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• 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 transaction of $439,440.00.
• On Monday, July 1st, Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00.
• On Friday, June 7th, Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock. The shares were sold at an average price of $138.92, for a total transaction of $1,055,792.00.

GoDaddy Trading Down 2.0 %

Shares of GDDY opened at $150.00 on Friday. The business’s 50-day moving average price is $152.27 and its 200 day moving average price is $135.83. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a market capitalization of $21.40 billion, a P/E ratio of 12.46 and a beta of 1.13. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts expect that GoDaddy Inc. will post 4.89 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in GoDaddy during the fourth quarter valued at $1,972,000. Victory Capital Management Inc. increased its holdings in shares of GoDaddy by 0.9% in the 4th quarter. Victory Capital Management Inc. now owns 77,216 shares of the technology company’s stock valued at $8,197,000 after purchasing an additional 699 shares during the period. Natixis Advisors L.P. lifted its position in shares of GoDaddy by 7.3% in the fourth quarter. Natixis Advisors L.P. now owns 35,166 shares of the technology company’s stock worth $3,733,000 after purchasing an additional 2,398 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of GoDaddy during the fourth quarter worth approximately $127,000. Finally, Principal Securities Inc. purchased a new position in GoDaddy during the fourth quarter valued at approximately $109,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald assumed coverage on GoDaddy in a research note on Thursday. They set a “neutral” rating and a $170.00 target price on the stock. B. Riley increased their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Royal Bank of Canada raised their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Benchmark upped their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.08.

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.