GoDaddy Inc. (NYSE:GDDY) CEO Sells $503,370.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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.
• 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 transaction of $500,730.00.

GoDaddy Price Performance

NYSE:GDDY opened at $177.25 on Friday. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 13.70 and a beta of 1.11. GoDaddy Inc. has a 12-month low of $86.11 and a 12-month high of $177.77. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company’s 50-day moving average is $159.75 and its two-hundred day moving average is $148.49.

GoDaddy (NYSE:GDDY) last announced its 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. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.89 earnings per share. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. Research analysts expect that GoDaddy Inc. will post 4.95 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on GDDY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Raymond James lifted 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. Robert W. Baird upped their price target on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada lifted their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently added to or reduced their stakes in the business. Highland Capital Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter valued at about $1,132,000. Plato Investment Management Ltd increased its stake in GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after acquiring an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares during the period. Forsta AP Fonden lifted its stake in shares of GoDaddy by 87.5% in the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after purchasing an additional 39,200 shares in the last quarter. Finally, Swedbank AB grew its holdings in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

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.