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

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was sold at an average price of $167.79, for a total value of $503,370.00.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $199.05 on Tuesday. GoDaddy Inc. has a 12 month low of $100.43 and a 12 month high of $211.11. The firm has a market capitalization of $27.94 billion, a P/E ratio of 15.38 and a beta of 1.15. 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’s fifty day moving average price is $193.67 and its 200 day moving average price is $167.80.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays raised their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. B. Riley upped their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Citigroup upped their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $187.71.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its position in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC increased its position in GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the period. Mizuho Securities USA LLC raised its stake in GoDaddy by 3,227.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after acquiring an additional 350,839 shares during the last quarter. FMR LLC lifted its position in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Company Profile

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.