Insider Selling: GoDaddy (NYSE:GDDY) CEO Sells 5,231 Shares of Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 5,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $87.83, for a total value of $459,438.73. Following the completion of the transaction, the chief executive officer directly owned 564,268 shares in the company, valued at approximately $49,559,658.44. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, March 4th, Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52.

GoDaddy Stock Up 5.2%

NYSE:GDDY traded up $4.60 during trading hours on Thursday, reaching $93.26. The company had a trading volume of 3,056,956 shares, compared to its average volume of 2,737,863. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $193.55. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 0.81 and a beta of 0.96. The business’s 50-day simple moving average is $101.89 and its two-hundred day simple moving average is $123.42.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. The firm 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 business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Key Stories Impacting GoDaddy

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. Royal Bank Of Canada decreased their target price on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Citigroup lowered their target price on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Cantor Fitzgerald cut their price target on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $131.93.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. NewSquare Capital LLC increased its position in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares during the last quarter. Hemington Wealth Management grew its stake in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares during the period. Rachor Investment Advisory Services LLC bought a new position in GoDaddy in the 4th quarter valued at $25,000. Activest Wealth Management increased its position in shares of GoDaddy by 6,600.0% during 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, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GoDaddy during the 4th quarter worth $25,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

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.