GoDaddy Inc. (NYSE:GDDY) CEO Sells $593,310.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the sale, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, November 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00.
• 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.

GoDaddy Trading Up 0.2 %

GoDaddy stock opened at $208.54 on Friday. GoDaddy Inc. has a 52 week low of $99.90 and a 52 week high of $210.30. The stock has a market capitalization of $29.28 billion, a P/E ratio of 16.12 and a beta of 1.15. The stock has a 50-day simple moving average of $174.49 and a 200 day simple moving average of $157.48. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts expect that GoDaddy Inc. will post 4.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in GoDaddy during the third quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new position in GoDaddy during the second quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new position in GoDaddy during the third quarter valued at approximately $30,000. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter valued at approximately $31,000. Finally, ORG Partners LLC acquired a new position in GoDaddy during the second quarter valued at approximately $32,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday. Finally, Barclays lifted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $181.57.

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.