GoDaddy (NYSE:GDDY) Stock: Insider Amanpal Singh Bhutani Sells 4,500 Shares

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Bhutani sold 4,500 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $117.80, for a total value of $530,100.00. Following the completion of the sale, the chief executive officer owned 495,553 shares of the company’s stock, valued at approximately $58,376,143.40. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Amanpal Bhutani sold 4,500 shares of GoDaddy stock. The shares were sold at an average price of $97.50, for a total transaction of $438,750.00.
• On Wednesday, September 2nd, Amanpal Bhutani sold 8,194 shares of GoDaddy stock. The shares were sold at an average price of $101.19, for a total transaction of $829,150.86.
• On Tuesday, September 1st, Amanpal Bhutani sold 4,500 shares of GoDaddy stock. The shares were sold at an average price of $97.44, for a total transaction of $438,480.00.

GoDaddy Price Performance

GDDY stock opened at $120.50 on Friday. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $133.88. The company has a market cap of $15.26 billion, a P/E ratio of 16.19 and a beta of 0.94. The firm has a 50-day moving average of $102.96 and a 200 day moving average of $92.34. The company has a debt-to-equity ratio of 561.10, a current ratio of 0.61 and a quick ratio of 0.63.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 29th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.18. GoDaddy had a return on equity of 1,200.87% and a net margin of 18.56%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company posted $1.51 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that GoDaddy Inc. will post 7.48 EPS for the current year.

Hedge Funds Weigh In On GoDaddy

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock valued at $30,000 after purchasing an additional 180 shares during the last quarter. Acuitas Investments LLC purchased a new stake in GoDaddy in the first quarter valued at approximately $33,000. Perkins Coie Trust Co acquired a new stake in shares of GoDaddy in the second quarter worth $34,000. Albion Financial Group UT purchased a new position in shares of GoDaddy during the 3rd quarter valued at about $39,000. Finally, Elevation Wealth Partners LLC lifted its holdings in GoDaddy by 109.3% in the third quarter. Elevation Wealth Partners LLC now owns 473 shares of the technology company’s stock valued at $45,000 after acquiring an additional 247 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GDDY shares. Wells Fargo & Company cut shares of GoDaddy from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $80.00 to $76.00 in a report on Wednesday, August 26th. Weiss Ratings raised shares of GoDaddy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Wedbush decreased their target price on GoDaddy from $109.00 to $93.00 and set an “outperform” rating on the stock in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered shares of GoDaddy to a “buy” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald increased their target price on GoDaddy from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Monday, October 19th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.62.

GoDaddy Company Profile

GoDaddy Inc (NYSE: GDDY) is a global technology company that provides online tools and services to entrepreneurs, small businesses and individuals. Its platform helps customers establish, manage and grow an online presence, with offerings that include domain-name registration, website hosting, website and online-store builders, professional email and digital marketing tools.

The company also provides services designed to support commerce and customer engagement, including e-commerce functionality, online appointment scheduling, payments and other business-management capabilities.