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 shares were sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. This trade represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 shares were sold at an average price of $87.83, for a total value of $459,438.73.

GoDaddy Stock Up 5.2%

NYSE:GDDY traded up $4.60 during trading hours on Thursday, reaching $93.26. 3,056,956 shares of the stock were exchanged, compared to its average volume of 2,737,863. The stock has a market cap of $12.60 billion, a PE ratio of 14.97, a PEG ratio of 0.81 and a beta of 0.96. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $193.55. The firm has a 50 day moving average of $101.89 and a 200 day moving average of $123.42. 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 (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

More GoDaddy News

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

Several hedge funds have recently bought and sold shares of the stock. Hemington Wealth Management boosted its position in shares of GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after acquiring an additional 85 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in GoDaddy during the fourth quarter worth $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of GoDaddy in the 4th quarter valued at $25,000. Activest Wealth Management increased its stake in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on GDDY shares. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Cantor Fitzgerald dropped their price objective on GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group decreased their target price on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research note on Monday, February 23rd. Royal Bank Of Canada dropped their price target on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Benchmark cut their price target on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.