GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 3,000 Shares

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the sale, the chief executive officer now directly owns 348,956 shares in the company, valued at approximately $54,297,553.60. This trade 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 through the SEC website.

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

• 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 value of $500,730.00.
• On Thursday, August 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $146.48, for a total value of $439,440.00.

GoDaddy Stock Performance

NYSE GDDY opened at $156.34 on Friday. The company has a market cap of $22.31 billion, a PE ratio of 12.99 and a beta of 1.12. The stock’s 50 day simple moving average is $156.54 and its 200-day simple moving average is $141.56. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Benchmark increased their price target on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada increased their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Robert W. Baird increased their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

Hedge Funds Weigh In On GoDaddy

Institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd lifted its position 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 buying an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in GoDaddy by 20.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after buying an additional 35,703 shares in the last quarter. Forsta AP Fonden lifted its position in GoDaddy by 87.5% during the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after buying an additional 39,200 shares in the last quarter. Swedbank AB lifted its position in GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after buying an additional 5,247 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in GoDaddy by 866.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after buying an additional 9,266 shares in the last quarter. Hedge funds and other institutional investors 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.