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 company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, the chief executive officer now owns 362,398 shares in the company, valued at $53,084,059.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, July 1st, Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock. The shares were sold at an average price of $139.79, for a total value of $629,055.00.
• On Friday, June 7th, Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock. The shares were sold at an average price of $138.92, for a total value of $1,055,792.00.
• On Tuesday, June 4th, Amanpal Singh Bhutani sold 6,825 shares of GoDaddy stock. The shares were sold at an average price of $138.09, for a total value of $942,464.25.

GoDaddy Trading Down 2.9 %

NYSE:GDDY traded down $4.37 during trading hours on Monday, reaching $146.88. 1,434,537 shares of the company were exchanged, compared to its average volume of 1,626,436. The stock has a 50 day simple moving average of $141.77 and a 200 day simple moving average of $127.32. GoDaddy Inc. has a 52-week low of $69.18 and a 52-week high of $152.09. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $20.96 billion, a price-to-earnings ratio of 12.28 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $0.63 EPS. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts predict that GoDaddy Inc. will post 4.81 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler lifted their price objective on GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday. Barclays upped their price objective on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada increased their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, William Blair restated an “outperform” rating on shares of GoDaddy in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.25.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently made changes to their positions in GDDY. V Square Quantitative Management LLC bought a new stake in shares of GoDaddy during the 4th quarter worth $28,000. Transcendent Capital Group LLC bought a new position in shares of GoDaddy during the 2nd quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of GoDaddy during the 2nd quarter worth about $32,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of GoDaddy during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

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.