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 on Friday, November 1st. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were sold at an average price of $155.60, for a total transaction 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 Stock Up 1.3 %

Shares of NYSE:GDDY traded up $2.12 on Tuesday, reaching $167.63. The company had a trading volume of 945,288 shares, compared to its average volume of 1,464,856. The firm has a market capitalization of $23.63 billion, a PE ratio of 12.95 and a beta of 1.11. 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 firm’s 50 day simple moving average is $159.21 and its 200-day simple moving average is $147.76. GoDaddy Inc. has a 52-week low of $84.78 and a 52-week high of $171.93.

GoDaddy (NYSE:GDDY) last released its 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 firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. As a group, analysts expect that GoDaddy Inc. will post 5.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several analyst reports. Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Raymond James boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $171.38.

Institutional Investors Weigh In On GoDaddy

Several large investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew 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 buying an additional 67 shares during the period. Prime Capital Investment Advisors LLC grew its position in shares of GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the period. Lindbrook Capital LLC boosted its holdings in 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 in the last quarter. Finally, Equitable Trust Co. grew its holdings in GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 107 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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.