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 GoDaddy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares in the company, valued at approximately $91,350,548.34. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, February 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $207.70, for a total value of $623,100.00.
• On Thursday, January 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $199.01, for a total value of $597,030.00.

GoDaddy Stock Down 0.7 %

Shares of NYSE:GDDY traded down $1.24 during midday trading on Tuesday, reaching $176.46. The company had a trading volume of 2,278,605 shares, compared to its average volume of 1,339,362. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The business’s 50 day moving average price is $197.35 and its 200 day moving average price is $182.15. The stock has a market cap of $24.94 billion, a PE ratio of 27.36 and a beta of 1.15. GoDaddy Inc. has a 1-year low of $108.38 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on GDDY shares. Benchmark lifted their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Citigroup lifted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Piper Sandler boosted their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Wells Fargo & Company initiated coverage on GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Seven research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in GoDaddy during the third quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the fourth quarter worth approximately $43,000. Rakuten Securities Inc. increased its position in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 165 shares during the last quarter. 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 buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.