GoDaddy Inc. (NYSE:GDDY – Get Free Report) CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $83.15, for a total value of $374,175.00. Following the sale, the chief executive officer owned 517,247 shares of the company’s stock, valued at approximately $43,009,088.05. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 shares were sold at an average price of $89.86, for a total value of $752,397.78.
GoDaddy Price Performance
Shares of NYSE:GDDY traded up $2.59 during trading on Wednesday, reaching $91.68. The stock had a trading volume of 1,972,224 shares, compared to its average volume of 2,334,705. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.67 and a current ratio of 0.63. GoDaddy Inc. has a 1-year low of $71.59 and a 1-year high of $157.40. The stock has a market cap of $12.14 billion, a PE ratio of 13.60, a PEG ratio of 0.80 and a beta of 0.90. The business has a fifty day moving average price of $86.63 and a 200-day moving average price of $88.35.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on GDDY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $90.00 target price on shares of GoDaddy in a research note on Friday, July 31st. William Blair downgraded GoDaddy from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Citigroup lowered their price objective on GoDaddy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday. Raymond James Financial downgraded GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 target price for the company. in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of GoDaddy to a “buy” rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.33.
Get Our Latest Stock Analysis on GoDaddy
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in GDDY. Trust Asset Management LLC purchased a new stake in GoDaddy in the second quarter valued at $127,000. Tema ETFs LLC grew its holdings in shares of GoDaddy by 22.6% during the 2nd quarter. Tema ETFs LLC now owns 2,585 shares of the technology company’s stock worth $219,000 after purchasing an additional 476 shares during the period. Handelsbanken Fonder AB increased its position in shares of GoDaddy by 10.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 42,500 shares of the technology company’s stock worth $3,607,000 after purchasing an additional 3,900 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in shares of GoDaddy during the 2nd quarter worth about $34,000. Finally, Czech National Bank raised its holdings in GoDaddy by 2.4% in the 2nd quarter. Czech National Bank now owns 37,689 shares of the technology company’s stock valued at $3,199,000 after buying an additional 884 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.
Trending Headlines about GoDaddy
Here are the key news stories impacting GoDaddy this week:
- Positive Sentiment: Momentum remains a supportive factor. Zacks characterized GoDaddy as a strong momentum stock, which may attract technical and style-focused investors. Here’s Why GoDaddy is a Strong Momentum Stock
- Positive Sentiment: Greater use of large language models could improve product development. Wedbush noted that GoDaddy’s web-building ecosystem is incorporating more LLMs into its development process, potentially supporting innovation and operating efficiency. GoDaddy’s Web-Building Ecosystem Utilizes More LLMs
- Neutral Sentiment: Management will present at an investor conference. CFO Mark McCaffrey is scheduled to speak at the Oppenheimer Technology, Internet & Communications Conference on August 11, potentially providing updates on strategy, AI initiatives and financial trends. GoDaddy to Present at the Oppenheimer Conference
- Negative Sentiment: Analysts have become more cautious. Wedbush issued a pessimistic forecast, while Citigroup lowered its expectations for GoDaddy’s stock price. The reports could pressure valuation and signal concerns about the company’s future growth or risk profile. Wedbush Issues Pessimistic Forecast Citigroup Lowers Expectations
- Negative Sentiment: Multiple law firms are investigating potential securities-law violations. Kaplan Fox and Rosen Law Firm are seeking investors who may have suffered losses amid allegations that GoDaddy issued materially misleading business information. These announcements are generally solicitations and do not establish wrongdoing, but they add headline, litigation and reputational risk. Kaplan Fox Investigation Rosen Law Firm Investigation
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.
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