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 company’s stock in a transaction on Tuesday, October 1st. The stock was 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 $54,297,553.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

GoDaddy Trading Up 1.2 %

GoDaddy stock opened at $156.34 on Friday. The stock has a 50-day moving average of $156.54 and a two-hundred day moving average of $141.56. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The stock has a market cap of $22.31 billion, a PE ratio of 12.99 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS 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 709.73%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Piper Sandler reiterated a “neutral” rating and issued a $172.00 target price (up from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Royal Bank of Canada upped their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Raymond James upped 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. Finally, B. Riley upped 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. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.54.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GDDY. V Square Quantitative Management LLC acquired a new position in shares of GoDaddy in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the second quarter valued at about $28,000. GAMMA Investing LLC increased its holdings in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the period. ORG Partners LLC acquired a new position in shares of GoDaddy in the second quarter valued at about $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of GoDaddy in the second quarter valued at about $36,000. 90.28% of the stock is owned by institutional investors and hedge funds.

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.