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

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the transaction, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, December 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $197.77, for a total value of $593,310.00.
• 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 value of $503,370.00.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $199.05 on Tuesday. The company has a 50-day simple moving average of $193.67 and a 200-day simple moving average of $167.80. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $27.94 billion, a PE ratio of 15.38 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $100.43 and a 12 month high of $211.11.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company earned $0.89 EPS. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays boosted 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. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler boosted their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $187.71.

Hedge Funds Weigh In On GoDaddy

Large investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy in the third quarter worth approximately $30,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the fourth quarter worth approximately $43,000. Finally, Huntington National Bank raised its stake in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 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.