Amanpal Singh Bhutani Sells 5,231 Shares of GoDaddy (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 5,231 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $87.83, for a total value of $459,438.73. Following the sale, the chief executive officer directly owned 564,268 shares in the company, valued at $49,559,658.44. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 4th, Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock. The shares were sold at an average price of $88.99, for a total value of $3,038,830.52.

GoDaddy Price Performance

Shares of GDDY traded up $4.60 during trading hours on Thursday, hitting $93.26. 3,056,956 shares of the company were exchanged, compared to its average volume of 2,737,863. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $193.55. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.81 and a beta of 0.96. The firm’s fifty day moving average is $101.89 and its 200 day moving average is $123.42.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.22. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. GoDaddy’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Institutional Trading of GoDaddy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its position in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares during the period. Hemington Wealth Management raised its stake in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the last quarter. Rachor Investment Advisory Services LLC acquired a new position in GoDaddy in the fourth quarter valued at $25,000. Activest Wealth Management boosted its position in GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in GoDaddy during the 4th quarter worth about $25,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Key GoDaddy News

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: GoDaddy reported a February-quarter earnings beat (EPS above consensus) and year-over-year revenue growth, reinforcing the company’s fundamentals and likely supporting buying interest.
• Neutral Sentiment: Coverage pieces continue to feature GoDaddy among growth-stock discussions, keeping the name on investors’ radars but not delivering a clear directional catalyst. 2 Top Growth Stocks to Buy, And 1 to Sell Right Away
• Negative Sentiment: Evercore ISI trimmed its price target to $95 and kept an In Line rating, which signals more muted upside from some sell-side desks and may cap near-term gains. Evercore ISI Lowers its Price Target on GoDaddy Inc. (GDDY) to $95 and Maintains an In Line Rating
• Negative Sentiment: Multiple insiders sold stock this week — including CEO Amanpal Singh Bhutani, CFO Mark McCaffrey, the CAO and a director — representing meaningful reductions in holdings (largest single sale: CEO sold 34,148 shares). Heavy insider selling can pressure sentiment and raise questions about near-term insider conviction. SEC filings and disclosures: CEO Form 4 CFO Form 4 CAO Form 4 Insider Trades Alert

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays cut their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Benchmark dropped their price objective on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Royal Bank Of Canada decreased their target price on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company lowered their price target on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.93.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.