GoDaddy (NYSE:GDDY) CEO Sells 6,932 Shares

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, September 10th, Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock. The shares were sold at an average price of $150.00, for a total value of $900,000.00.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded up $1.80 on Wednesday, hitting $130.11. The company had a trading volume of 1,934,048 shares, compared to its average volume of 1,563,454. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.42 and a beta of 0.95. The stock has a 50 day moving average price of $131.32 and a 200 day moving average price of $152.21. GoDaddy Inc. has a 1-year low of $121.94 and a 1-year high of $216.00. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. GoDaddy’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 EPS. Analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Institutional Investors Weigh In On GoDaddy

Several hedge funds have recently modified their holdings of GDDY. Norges Bank acquired a new stake in shares of GoDaddy during the second quarter valued at about $341,588,000. Goldman Sachs Group Inc. grew its holdings in GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock worth $402,946,000 after acquiring an additional 1,610,890 shares during the last quarter. Ameriprise Financial Inc. increased its position in GoDaddy by 47.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after acquiring an additional 1,128,646 shares during the period. Qube Research & Technologies Ltd increased its position in GoDaddy by 2,289.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock valued at $157,305,000 after acquiring an additional 837,065 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of GoDaddy by 99.7% during the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after acquiring an additional 814,360 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GDDY. Morgan Stanley set a $159.00 target price on GoDaddy in a report on Friday, October 31st. Wells Fargo & Company lowered their target price on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. JPMorgan Chase & Co. cut their target price on GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Evercore ISI decreased their price target on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. Finally, Benchmark dropped their price target on GoDaddy from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.14.

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.