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 on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the transaction, the chief executive officer now owns 348,956 shares of the company’s stock, valued at $54,297,553.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

GoDaddy Price Performance

Shares of GDDY traded down $0.52 during midday trading on Thursday, hitting $154.43. 582,034 shares of the company traded hands, compared to its average volume of 1,522,083. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a 50 day moving average of $156.06 and a 200-day moving average of $141.22. The stock has a market cap of $22.04 billion, a price-to-earnings ratio of 12.85 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. On average, analysts forecast that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Federated Hermes Inc. grew its position in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares in the last quarter. Goldman Sachs Group Inc. grew its position in GoDaddy by 13.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after acquiring an additional 110,076 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after acquiring an additional 235,934 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Benchmark upped their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada upped their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler restated a “neutral” rating and set a $172.00 target price (up from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.54.

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.