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 company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 stock was 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 value of $500,730.00.

GoDaddy Stock Performance

Shares of GDDY stock opened at $167.63 on Wednesday. The company has a market cap of $23.63 billion, a P/E ratio of 12.95 and a beta of 1.11. The business has a 50 day moving average of $159.27 and a two-hundred day moving average of $148.10. GoDaddy Inc. has a 52 week low of $84.78 and a 52 week high of $171.93. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion during 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 business earned $0.89 EPS. As a group, analysts anticipate that GoDaddy Inc. will post 5.13 EPS for the current year.

Institutional Trading of GoDaddy

A number of large investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in GoDaddy by 33.7% in the 3rd quarter. Victory Capital Management Inc. now owns 209,158 shares of the technology company’s stock worth $32,792,000 after purchasing an additional 52,686 shares during the last quarter. Cumberland Partners Ltd grew its holdings in GoDaddy by 20.0% in the 3rd quarter. Cumberland Partners Ltd now owns 12,000 shares of the technology company’s stock worth $1,881,000 after buying an additional 2,000 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in GoDaddy by 4.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 373,257 shares of the technology company’s stock valued at $58,519,000 after acquiring an additional 17,573 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new position in GoDaddy during the 3rd quarter worth $273,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GDDY. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James upped their price target 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. Royal Bank of Canada raised their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $171.38.

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.