Insider Selling: GoDaddy (NYSE:GDDY) CEO Sells $886,880.08 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction 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 $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $900,000.00.

GoDaddy Trading Down 1.4%

NYSE GDDY opened at $128.43 on Friday. GoDaddy Inc. has a 52 week low of $121.94 and a 52 week high of $216.00. The company has a 50 day moving average price of $130.85 and a 200 day moving average price of $151.63. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The firm has a market cap of $17.36 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.45 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. GoDaddy’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.32 earnings per share. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on GDDY shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 target price on shares of GoDaddy in a research report on Friday, October 31st. Citigroup decreased their price objective on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, October 31st. B. Riley lowered their target price on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, Barclays decreased their price target on shares of GoDaddy from $235.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $181.14.

Institutional Trading of GoDaddy

Several large investors have recently made changes to their positions in GDDY. Hemington Wealth Management lifted its position in GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares during the period. Bayforest Capital Ltd purchased a new position in shares of GoDaddy during the 2nd quarter valued at about $26,000. NewSquare Capital LLC lifted its holdings in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after buying an additional 94 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of GoDaddy in the first quarter worth about $30,000. Finally, Root Financial Partners LLC acquired a new stake in GoDaddy during the third quarter worth about $31,000. 90.28% of the stock is 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.