GoDaddy Inc. (NYSE:GDDY) CEO Sells $597,030.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the sale, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 Stock Performance

Shares of NYSE GDDY opened at $196.91 on Thursday. The company’s fifty day moving average price is $194.36 and its 200 day moving average price is $168.21. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy Inc. has a 1 year low of $102.60 and a 1 year high of $211.11. The company has a market capitalization of $27.64 billion, a PE ratio of 15.22 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently modified their holdings of GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy during the third quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy during the 4th quarter valued at about $43,000. Finally, Huntington National Bank increased its position in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent analyst reports. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group increased their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Five equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.