Insider Selling: GoDaddy (NYSE:GDDY) CEO Sells 34,148 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the transaction, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. The trade was a 6.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, March 3rd, Amanpal Singh Bhutani sold 5,231 shares of GoDaddy stock. The stock was sold at an average price of $87.83, for a total value of $459,438.73.

GoDaddy Stock Performance

Shares of GDDY traded up $4.60 on Thursday, reaching $93.26. 3,056,956 shares of the stock traded hands, compared to its average volume of 2,737,863. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.81 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $193.55. The stock’s 50-day moving average price is $101.89 and its 200-day moving average price is $123.42.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy News Summary

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: GoDaddy reported a February-quarter earnings beat (EPS above consensus) and year-over-year revenue growth, reinforcing the company’s fundamentals and likely supporting buying interest.
• Neutral Sentiment: Coverage pieces continue to feature GoDaddy among growth-stock discussions, keeping the name on investors’ radars but not delivering a clear directional catalyst. 2 Top Growth Stocks to Buy, And 1 to Sell Right Away
• Negative Sentiment: Evercore ISI trimmed its price target to $95 and kept an In Line rating, which signals more muted upside from some sell-side desks and may cap near-term gains. Evercore ISI Lowers its Price Target on GoDaddy Inc. (GDDY) to $95 and Maintains an In Line Rating
• Negative Sentiment: Multiple insiders sold stock this week — including CEO Amanpal Singh Bhutani, CFO Mark McCaffrey, the CAO and a director — representing meaningful reductions in holdings (largest single sale: CEO sold 34,148 shares). Heavy insider selling can pressure sentiment and raise questions about near-term insider conviction. SEC filings and disclosures: CEO Form 4 CFO Form 4 CAO Form 4 Insider Trades Alert

Institutional Investors Weigh In On GoDaddy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of GoDaddy by 67.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock worth $155,968,000 after acquiring an additional 504,374 shares in the last quarter. Invesco Ltd. grew its position in shares of GoDaddy by 9.3% in the 4th quarter. Invesco Ltd. now owns 2,209,899 shares of the technology company’s stock valued at $274,204,000 after purchasing an additional 187,839 shares during the period. Corient Private Wealth LLC increased its stake in GoDaddy by 17.9% during the 4th quarter. Corient Private Wealth LLC now owns 10,215 shares of the technology company’s stock worth $1,222,000 after purchasing an additional 1,552 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in GoDaddy by 85.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,531 shares of the technology company’s stock worth $3,788,000 after buying an additional 14,053 shares during the period. Finally, Delta Global Management LP lifted its stake in GoDaddy by 13.6% in the fourth quarter. Delta Global Management LP now owns 19,624 shares of the technology company’s stock valued at $2,435,000 after buying an additional 2,354 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Benchmark cut their price objective on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Cantor Fitzgerald lowered their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Citigroup cut their price target on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Jefferies Financial Group decreased their price objective on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Finally, Evercore set a $95.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. 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 data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.