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

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, November 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $167.79, for a total value of $503,370.00.
• On Tuesday, October 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $155.60, for a total value of $466,800.00.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $208.15 on Thursday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day moving average price is $173.43 and its 200-day moving average price is $157.12. The firm has a market capitalization of $29.22 billion, a PE ratio of 16.09 and a beta of 1.15. GoDaddy Inc. has a 1 year low of $99.90 and a 1 year high of $208.71.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. As a group, equities research analysts expect that GoDaddy Inc. will post 4.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.38.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in shares of GoDaddy by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock valued at $68,565,000 after buying an additional 38,511 shares during the period. Tidal Investments LLC raised its holdings in shares of GoDaddy by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after buying an additional 5,205 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in GoDaddy in the 3rd quarter valued at approximately $922,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the third quarter worth $31,000. Finally, Te Ahumairangi Investment Management Ltd increased its position in shares of GoDaddy by 86.8% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock worth $2,340,000 after acquiring an additional 6,974 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

About GoDaddy

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.