Key Points
- GoDaddy CEO Amanpal Singh Bhutani sold 4,500 shares for $530,100 at an average price of $117.80, under a pre-arranged Rule 10b5-1 trading plan. He retained 495,553 shares after the sale.
- GoDaddy’s latest quarter beat estimates: earnings were $2.08 per share versus $1.90 expected, and revenue reached $1.34 billion, up 6.1% year over year.
- Analyst sentiment was mixed, with an average “Hold” rating and an average price target of $113.62; shares opened at $118.65 in the reported session.
GoDaddy Inc. (NYSE:GDDY - Get Free Report) 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 value 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 trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 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 value 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 value 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 Price Performance
GoDaddy stock opened at $118.65 on Thursday. The firm has a market capitalization of $15.03 billion, a PE ratio of 16.23 and a beta of 0.94. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $135.71. The firm's 50-day simple moving average is $102.46 and its 200 day simple moving average is $92.26. The company has a quick ratio of 0.63, a current ratio of 0.61 and a debt-to-equity ratio of 561.10.
GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, October 29th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.18. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. GoDaddy had a net margin of 18.56% and a return on equity of 1,200.87%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. On average, equities research analysts predict that GoDaddy Inc. will post 7.48 EPS for the current fiscal year.
Institutional Investors Weigh In On GoDaddy
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of GoDaddy by 27.0% during the first quarter. Renaissance Technologies LLC now owns 553,300 shares of the technology company's stock valued at $45,741,000 after buying an additional 117,800 shares during the period. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in GoDaddy in the 2nd quarter worth approximately $28,938,000. Swiss National Bank raised its holdings in GoDaddy by 4.5% in the 1st quarter. Swiss National Bank now owns 396,500 shares of the technology company's stock valued at $32,779,000 after acquiring an additional 17,100 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in GoDaddy in the 3rd quarter valued at $9,306,000. Finally, CWA Asset Management Group LLC acquired a new position in GoDaddy in the 3rd quarter valued at $3,086,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. B. Riley Financial dropped their price objective on shares of GoDaddy from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, July 31st. William Blair lowered GoDaddy from an "outperform" rating to a "market perform" rating in a research note on Friday, July 31st. Cantor Fitzgerald increased their target price on GoDaddy from $90.00 to $100.00 and gave the company a "neutral" rating in a report on Monday, October 19th. Piper Sandler reissued a "neutral" rating and set a $95.00 price target (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Finally, Robert W. Baird raised their price target on GoDaddy from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, September 25th. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, GoDaddy has an average rating of "Hold" and an average target price of $113.62.
View Our Latest Research Report on GDDY
About GoDaddy
(
Get Free Report)
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.
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