Insider Selling: GoDaddy Inc. (NYSE:GDDY) CEO Sells 3,000 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the transaction, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. This represents a 0.89 % decrease in their ownership of the stock. The sale 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 Monday, December 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $197.77, for a total value of $593,310.00.
• 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.

GoDaddy Price Performance

Shares of GoDaddy stock traded down $1.34 during midday trading on Monday, reaching $199.05. The company had a trading volume of 990,662 shares, compared to its average volume of 931,587. The stock has a fifty day simple moving average of $193.67 and a 200 day simple moving average of $167.80. GoDaddy Inc. has a 1-year low of $100.43 and a 1-year high of $211.11. 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 has a market capitalization of $27.94 billion, a price-to-earnings ratio of 15.38 and a beta of 1.15.

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, beating the consensus estimate of $1.25 by $0.07. The business 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 firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, equities research analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently bought and sold shares of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after purchasing an additional 67 shares during the period. Prime Capital Investment Advisors LLC increased its stake in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after purchasing an additional 99 shares during the period. Equitable Trust Co. raised its position in GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after buying an additional 107 shares during the last quarter. Finally, Covestor Ltd boosted its position in GoDaddy by 22.4% during the 3rd quarter. Covestor Ltd now owns 590 shares of the technology company’s stock worth $93,000 after acquiring an additional 108 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GDDY shares. B. Riley increased their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler raised their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Citigroup boosted their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday. Finally, Benchmark upped their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.71.

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.