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 the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the sale, the chief executive officer now owns 348,956 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink.

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 shares were 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 shares were sold at an average price of $146.48, for a total value of $439,440.00.

GoDaddy Stock Up 1.2 %

Shares of GDDY opened at $156.33 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The stock’s 50 day moving average is $156.54 and its two-hundred day moving average is $141.72. The firm has a market cap of $22.31 billion, a P/E ratio of 12.98 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS 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 business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts predict that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. B. Riley raised their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Robert W. Baird raised their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Benchmark raised their price objective on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Raymond James raised their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Six equities 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, GoDaddy has an average rating of “Moderate Buy” and an average target price of $166.54.

Institutional Trading of GoDaddy

Institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd lifted its position in shares of GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after acquiring an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares in the last quarter. Forsta AP Fonden lifted its position in shares of GoDaddy by 87.5% in the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after acquiring an additional 39,200 shares in the last quarter. Swedbank AB lifted its position in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of GoDaddy by 866.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after acquiring an additional 9,266 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

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.