Amanpal Singh Bhutani, the Chief Executive Officer of GoDaddy Inc. (NYSE:GDDY), a $27.9 billion market cap company with a GREAT financial health score according to InvestingPro, has recently sold 3,000 shares of the company’s Class A common stock. The transaction, which took place on January 2, 2025, was executed at a price of $199.01 per share, amounting to a total of $597,030. Following this sale, Bhutani retains direct ownership of 333,153 shares in the company. The sale was conducted under a pre-established 10b5-1 trading plan, as noted in the filing. The stock has shown remarkable strength, gaining nearly 99% over the past year and currently trading near its 52-week high. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading above its intrinsic value. Subscribers can access 12 additional ProTips and comprehensive insider trading analysis in the Pro Research Report.
In other recent news, GoDaddy Inc. has successfully secured a $1.46 billion refinancing deal, a strategic move to optimize its capital structure and reduce its cost of capital. This comes following the firm’s impressive third-quarter financial performance, which saw a 7% year-over-year increase in total revenue, reaching $1.15 billion. Notably, the company’s Applications & Commerce segment experienced a 16% growth in revenue. In line with these developments, several analyst firms, including Baird, RBC Capital Markets, JPMorgan, and Oppenheimer, have revised their stock targets upwards.
Baird, for instance, increased its price target on GoDaddy to $250, maintaining an Outperform rating, after gaining insights into the company’s strategic direction and new product offerings at an investor dinner. RBC Capital Markets also raised its price target to $230, reflecting optimism for GoDaddy’s AI platform, Airo. Meanwhile, JPMorgan revised its price target for GoDaddy to $224, signaling confidence in the company’s growth trajectory, particularly in its Application & Commerce segment. Oppenheimer reiterated a Perform rating on GoDaddy shares, highlighting the positive impact of the Airo and Airo Plus offerings on improving customer engagement and monetization.
In terms of personnel changes, GoDaddy has appointed Phontip Palitwanon as the new Chief Accounting Officer. The company has also introduced Airo Plus, a premium service expected to provide direct monetization opportunities. This development, along with the company’s use of artificial intelligence and bundling strategies, has reportedly resulted in customers adopting secondary products 25% quicker. These are part of GoDaddy’s broader internal optimization efforts, which are ongoing and still offer potential operational expenditure savings.
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