GoDaddy (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 4,500 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Bhutani sold 4,500 shares of the firm’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 transaction of $530,100.00. Following the transaction, the chief executive officer owned 495,553 shares in the company, valued at approximately $58,376,143.40. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $97.50, for a total transaction 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 transaction of $829,150.86.
• On Tuesday, September 1st, Amanpal Bhutani sold 4,500 shares of GoDaddy stock. The stock was sold at an average price of $97.44, for a total transaction of $438,480.00.

GoDaddy Trading Up 4.6%

Shares of GoDaddy stock opened at $118.65 on Thursday. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year 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 has a market capitalization of $15.03 billion, a P/E ratio of 16.23 and a beta of 0.94. The company’s fifty day moving average is $102.46 and its two-hundred day moving average is $92.26.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, October 29th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.18. GoDaddy had a net margin of 18.56% and a return on equity of 1,200.87%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $1.51 earnings per share. GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts forecast that GoDaddy Inc. will post 7.48 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on GDDY. Piper Sandler reiterated a “neutral” rating and issued a $95.00 target price (up from $93.00) on shares of GoDaddy in a research note on Friday, July 31st. Benchmark cut their price target on GoDaddy from $185.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Wedbush decreased their price target on GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Wells Fargo & Company lowered shares of GoDaddy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $80.00 to $76.00 in a research report on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of GoDaddy to a “buy” rating in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.62.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in GoDaddy by 1.0% in the first quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock valued at $270,924,000 after buying an additional 33,509 shares in the last quarter. Bank of America Corp DE lifted its position in shares of GoDaddy by 27.9% during the 1st quarter. Bank of America Corp DE now owns 1,383,615 shares of the technology company’s stock valued at $114,383,000 after acquiring an additional 302,126 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of GoDaddy by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 754,994 shares of the technology company’s stock worth $62,415,000 after acquiring an additional 19,940 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of GoDaddy by 4.2% during the 1st quarter. Hsbc Holdings PLC now owns 659,664 shares of the technology company’s stock worth $54,520,000 after acquiring an additional 26,537 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of GoDaddy by 24.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 558,912 shares of the technology company’s stock worth $53,382,000 after acquiring an additional 109,039 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Company Profile

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.