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

Key Points

• CEO Amanpal Bhutani sold 4,500 GoDaddy shares at an average price of $97.50, totaling $438,750, under a pre-arranged Rule 10b5-1 trading plan. He retained 500,053 shares following the transaction.
• GoDaddy reported quarterly revenue of $1.30 billion and adjusted earnings of $1.83 per share, exceeding analyst estimates, while revenue increased 6.6% year over year.
• Shares recently traded at $99.82, while analysts maintained an average “Hold” rating and a $110.69 price target; institutional investors own approximately 90.28% of the stock.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CEO Amanpal Bhutani sold 4,500 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $97.50, for a total transaction of $438,750.00. Following the sale, the chief executive officer owned 500,053 shares in the company, valued at $48,755,167.50. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $829,150.86.
• On Tuesday, September 1st, Amanpal Bhutani sold 4,500 shares of GoDaddy stock. The shares were sold at an average price of $97.44, for a total value of $438,480.00.
• On Monday, August 3rd, Amanpal Bhutani sold 4,500 shares of GoDaddy stock. The stock was sold at an average price of $83.15, for a total value of $374,175.00.

GoDaddy Price Performance

GDDY traded up $2.61 on Monday, hitting $99.82. 1,556,753 shares of the company's stock traded hands, compared to its average volume of 2,310,775. The company's 50 day simple moving average is $96.83 and its 200-day simple moving average is $89.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 561.10. GoDaddy Inc. has a one year low of $71.59 and a one year high of $139.44. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 14.81 and a beta of 0.94.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.14. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. As a group, research analysts anticipate that GoDaddy Inc. will post 7.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wedbush decreased their price target on shares of GoDaddy from $109.00 to $93.00 and set an "outperform" rating on the stock in a research note on Monday, August 3rd. Benchmark reduced their target price on GoDaddy from $185.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, July 31st. B. Riley Financial dropped their price target on GoDaddy from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Weiss Ratings upgraded GoDaddy from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Finally, William Blair cut GoDaddy from an "outperform" rating to a "market perform" rating in a report on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $110.69.

Institutional Investors Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. WCM Investment Management LLC raised its holdings in GoDaddy by 1.0% during 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 during the period. JPMorgan Chase & Co. boosted its stake in shares of GoDaddy by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company's stock worth $399,089,000 after purchasing an additional 319,515 shares during the period. Arrowstreet Capital Limited Partnership raised its position in GoDaddy by 2.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,821,379 shares of the technology company's stock worth $350,077,000 after purchasing an additional 56,086 shares during the period. Goldman Sachs Group Inc. lifted its stake in GoDaddy by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,456,110 shares of the technology company's stock worth $180,674,000 after purchasing an additional 123,993 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in GoDaddy by 27.9% in the first quarter. Bank of America Corp DE now owns 1,383,615 shares of the technology company's stock worth $114,383,000 after purchasing an additional 302,126 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Company Profile

GoDaddy Inc NYSE: GDDY is a technology company that provides domain name registration and online services for individuals, entrepreneurs, and small businesses. Its platform enables customers to search for and manage domain names, establish an online presence, and build and maintain websites.

The company offers website and ecommerce tools, managed web hosting, business email, online marketing services, and website security products. GoDaddy also provides tools designed to help businesses manage digital content, customer engagement, appointments, payments, and other day-to-day online activities through an integrated platform.

Founded in 1997 as Jomax Technologies by entrepreneur Bob Parsons, the company later adopted the GoDaddy name and grew into a global provider of online services.

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