Insider Selling: GoDaddy (NYSE:GDDY) CEO Sells 4,500 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Bhutani sold 4,500 shares of the business’s 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 sale, the chief executive officer directly owned 495,553 shares in the company, valued at approximately $58,376,143.40. The trade was a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $97.50, for a total value 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 value 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 value of $438,480.00.

GoDaddy Price Performance

Shares of GDDY stock traded up $5.20 during mid-day trading on Wednesday, hitting $118.65. 1,632,763 shares of the stock traded hands, compared to its average volume of 2,245,833. GoDaddy Inc. has a twelve month low of $71.59 and a twelve month high of $135.71. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.61. The company’s 50-day simple moving average is $102.08 and its 200-day simple moving average is $92.21. The firm has a market cap of $15.03 billion, a price-to-earnings ratio of 16.23 and a beta of 0.94.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. GoDaddy had a return on equity of 1,200.87% and a net margin of 18.56%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. As a group, equities research analysts expect that GoDaddy Inc. will post 7.50 earnings per share for the current year.

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. New York Life Investment Management LLC grew its holdings in shares of GoDaddy by 2.5% in the 3rd quarter. New York Life Investment Management LLC now owns 34,442 shares of the technology company’s stock worth $3,290,000 after acquiring an additional 853 shares during the last quarter. AlphaCore Capital LLC grew its holdings in shares of GoDaddy by 143.9% in the 3rd quarter. AlphaCore Capital LLC now owns 6,203 shares of the technology company’s stock worth $592,000 after acquiring an additional 3,660 shares during the last quarter. Fulcrum Asset Management LLP raised its position in shares of GoDaddy by 962.3% during the third quarter. Fulcrum Asset Management LLP now owns 14,256 shares of the technology company’s stock worth $1,341,000 after purchasing an additional 12,914 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of GoDaddy by 11.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,676 shares of the technology company’s stock worth $841,000 after purchasing an additional 906 shares during the period. Finally, Brighton Jones LLC raised its position in shares of GoDaddy by 68.8% during the third quarter. Brighton Jones LLC now owns 23,260 shares of the technology company’s stock worth $2,222,000 after purchasing an additional 9,481 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of several research reports. Wedbush dropped their price target on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating on the stock in a research report on Monday, August 3rd. Robert W. Baird raised their price objective on shares of GoDaddy from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. Royal Bank Of Canada cut shares of GoDaddy from an “outperform” rating to a “sector perform” rating and set a $95.00 price objective on the stock. in a research note on Sunday, October 11th. Weiss Ratings raised shares of GoDaddy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Finally, William Blair downgraded shares of GoDaddy from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.62.

About GoDaddy

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.