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

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Bhutani sold 4,500 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $117.80, for a total transaction of $530,100.00. Following the completion of the sale, the chief executive officer directly owned 495,553 shares in the company, valued at $58,376,143.40. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was 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 stock was 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 Stock Up 4.6%

Shares of GoDaddy stock traded up $5.20 during trading on Wednesday, reaching $118.65. The company had a trading volume of 1,632,763 shares, compared to its average volume of 2,245,833. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 16.23 and a beta of 0.94. The firm’s fifty day moving average is $102.08 and its 200-day moving average is $92.21. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.61. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $135.71.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, October 29th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.90 by $0.18. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. GoDaddy had a net margin of 18.56% and a return on equity of 1,200.87%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 earnings per share. On average, analysts anticipate that GoDaddy Inc. will post 7.50 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler reaffirmed a “neutral” rating and set a $95.00 target price (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. William Blair lowered GoDaddy from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Royal Bank Of Canada downgraded GoDaddy from an “outperform” rating to a “sector perform” rating and set a $95.00 price target for the company. in a report on Sunday, October 11th. Robert W. Baird boosted their price target on GoDaddy from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 25th. Finally, Wells Fargo & Company lowered GoDaddy from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $80.00 to $76.00 in a research report on Wednesday, August 26th. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.62.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. WCM Investment Management LLC grew its position in GoDaddy by 1.0% in the 1st 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 increased its stake in 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 buying an additional 302,126 shares during the period. Bank of New York Mellon Corp raised its position 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 buying an additional 19,940 shares in the last quarter. Hsbc Holdings PLC raised its position 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 buying an additional 26,537 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of GoDaddy by 24.2% in 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 during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

About GoDaddy

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.