Amanpal Singh Bhutani Sells 3,000 Shares of GoDaddy Inc. (NYSE:GDDY) Stock

On January 2nd, 2025, Amanpal Singh Bhutani, the CEO of GoDaddy Inc. (NYSE:GDDY – Get Free Report), executed a sale of 3,000 shares of the company’s stock. The shares were sold at an average price of $199.01, resulting in a total transaction value of $597,030. Following this sale, Bhutani owns a total of 333,153 shares, which are valued at approximately $66,300,778.53. This sale marks a 0.89% decrease in his ownership stake in GoDaddy. The details of this transaction were reported to the Securities and Exchange Commission (SEC) and can be found on their official site.

Additionally, Bhutani has made other recent trades involving GoDaddy stock:

• On December 2nd, he sold another 3,000 shares at an average price of $197.77, totaling $593,310.00.
• On November 1st, he sold 3,000 shares for an average price of $167.79, bringing in $503,370.00.

GoDaddy Stock Performance

As of the latest market opening, shares of GoDaddy (NYSE GDDY) were trading at $199.05. The company has a 50-day simple moving average of $193.67 and a 200-day average of $167.80. GoDaddy's financial metrics reveal a debt-to-equity ratio of 10.61, a current ratio of 0.56, and a quick ratio of 0.56. Its market capitalization stands at $27.94 billion, with a price-to-earnings ratio of 15.38 and a beta of 1.15. Over the past year, GoDaddy stock has fluctuated between a low of $100.43 and a high of $211.11.

GoDaddy recently announced its earnings results on October 30th, where it reported earnings per share (EPS) of $1.32, surpassing analysts' expectations of $1.25 by $0.07. The company achieved a net margin of 41.74% and an impressive return on equity of 267.29%. Revenue for the quarter was $1.15 billion, slightly above the expected $1.14 billion. Compared to the previous year's quarter, revenue increased by 7.3%. Analysts currently project that GoDaddy will post an EPS of 4.96 for this fiscal year.

Wall Street Analysts Forecast Growth

Analysts have varied opinions on GoDaddy’s stock. Barclays raised their target price from $165.00 to $185.00, recommending an “overweight” rating. Conversely, StockNews.com downgraded the stock from a “strong-buy” to a “buy” rating. JPMorgan Chase & Co. increased their target price significantly from $175.00 to $224.00, maintaining an “overweight” rating. Other firms like Piper Sandler and B. Riley have also adjusted their price targets, with B. Riley now rating the stock a “buy” with a target of $190.00. In total, five analysts give a hold rating, while ten assign a buy rating, and one gives a strong buy rating, indicating a generally positive outlook with an average target price of $187.71 according to MarketBeat.com.

Hedge Funds Weigh In On GoDaddy

Recently, numerous hedge funds have altered their positions in GoDaddy. Ashton Thomas Securities LLC added a new stake valued at $27,000, while ORG Wealth Partners LLC took a position worth about $30,000 in the third quarter. Several other institutions, like Anchor Investment Management LLC and Huntington National Bank, have also acquired or increased their stakes. Notably, 90.28% of GoDaddy’s stock is currently held by hedge funds and institutional investors.

About GoDaddy

GoDaddy Inc. is involved in creating and providing cloud-based products both in the U.S. and globally. Its operations are divided into two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment offers various products, including website building tools and e-commerce solutions, enabling customers to develop and manage online platforms efficiently.

Amanpal, Bhutani, GoDaddy