Amanpal Singh Bhutani Sells 3,000 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the sale, the chief executive officer now owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, October 1st, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $155.60, for a total value of $466,800.00.
• On Tuesday, September 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00.

GoDaddy Trading Up 1.3 %

Shares of GoDaddy stock traded up $2.12 during trading on Tuesday, hitting $167.63. The stock had a trading volume of 945,288 shares, compared to its average volume of 1,464,856. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $23.63 billion, a PE ratio of 12.95 and a beta of 1.11. GoDaddy Inc. has a 1 year low of $84.78 and a 1 year high of $171.93. The stock has a 50 day simple moving average of $159.21 and a 200 day simple moving average of $147.76.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.89 EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that GoDaddy Inc. will post 5.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of research reports. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Raymond James increased their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler boosted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.38.

Hedge Funds Weigh In On GoDaddy

Large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the third quarter valued at about $30,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy during the 2nd quarter worth $28,000. ORG Partners LLC bought a new position in shares of GoDaddy during the 2nd quarter valued at $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

About GoDaddy

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.