Insider Selling: GoDaddy (NYSE:GDDY) CEO Sells $374,175.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 4,500 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $83.15, for a total transaction of $374,175.00. Following the transaction, the chief executive officer directly owned 517,247 shares in the company, valued at approximately $43,009,088.05. The trade was a 0.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Tuesday, June 2nd, Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78.

GoDaddy Trading Up 0.6%

GoDaddy stock opened at $90.93 on Friday. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $150.47. The company has a debt-to-equity ratio of 561.10, a current ratio of 0.63 and a quick ratio of 0.67. The stock has a market capitalization of $12.04 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.81 and a beta of 0.90. The firm has a 50 day simple moving average of $86.91 and a 200-day simple moving average of $88.16.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, July 30th. The technology company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.69 by $0.14. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. As a group, equities research analysts expect that GoDaddy Inc. will post 7.21 EPS for the current fiscal year.

Institutional Investors Weigh In On GoDaddy

Hedge funds have recently modified their holdings of the stock. Sivia Capital Partners LLC raised its holdings in GoDaddy by 90.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after buying an additional 1,552 shares during the period. Cerity Partners LLC boosted its holdings in shares of GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after buying an additional 9,062 shares during the period. Treasurer of the State of North Carolina increased its position in shares of GoDaddy by 83.0% in the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock worth $28,016,000 after acquiring an additional 70,585 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of GoDaddy in the second quarter worth approximately $152,000. Finally, Main Street Financial Solutions LLC increased its position in shares of GoDaddy by 1.0% in the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after acquiring an additional 119 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy News Roundup

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Valuation remains a potential support. Zacks identified GoDaddy as a top value stock for the long term, highlighting its valuation and investment-style characteristics. The company trades at roughly 13.5 times earnings, while analysts’ average price target remains above the current trading range. Zacks GoDaddy Value Stock Article
• Neutral Sentiment: CEO share sale was made under a preset trading plan. Chief Executive Officer Amanpal Singh Bhutani sold 4,500 shares for approximately $374,000, reducing his direct holdings by 0.86%. Because the transaction occurred under a Rule 10b5-1 plan and represented a small portion of his holdings, it is a limited indicator of management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: Multiple law firms are investigating GoDaddy. Rosen Law Firm and Kaplan Fox & Kilsheimer said they are examining potential securities claims and alleged misleading business disclosures. The announcements largely seek to recruit affected investors and do not establish wrongdoing, but they introduce potential litigation, financial and reputational risks that may weigh on sentiment. Rosen Law Firm Investigation Kaplan Fox Investigation

Wall Street Analyst Weigh In

A number of analysts have recently commented on GDDY shares. Piper Sandler reissued a “neutral” rating and issued a $95.00 price objective (up from $93.00) on shares of GoDaddy in a research note on Friday, July 31st. B. Riley Financial lowered their target price on GoDaddy from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, July 31st. UBS Group began coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target on the stock. Citigroup cut their price target on shares of GoDaddy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of GoDaddy from $83.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $110.33.

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.