GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 2,500 Shares

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 2,500 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $120.00, for a total value of $300,000.00. Following the sale, the chief executive officer now owns 384,323 shares in the company, valued at approximately $46,118,760. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Amanpal Singh Bhutani also recently made the following trade(s):

• On Friday, March 8th, Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock. The stock was sold at an average price of $113.80, for a total value of $864,880.00.
• On Monday, March 4th, Amanpal Singh Bhutani sold 59,608 shares of GoDaddy stock. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32.
• On Friday, March 1st, Amanpal Singh Bhutani sold 8,687 shares of GoDaddy stock. The stock was sold at an average price of $114.11, for a total value of $991,273.57.

GoDaddy Stock Up 0.9 %

Shares of NYSE:GDDY opened at $122.07 on Thursday. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 12.74 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. The business’s 50-day moving average is $112.79 and its 200-day moving average is $97.44. GoDaddy Inc. has a 1 year low of $67.43 and a 1 year high of $122.83.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Equities research analysts predict that GoDaddy Inc. will post 4.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of several recent research reports. UBS Group lifted their target price on GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Raymond James initiated coverage on GoDaddy in a report on Wednesday. They set a “strong-buy” rating and a $150.00 target price on the stock. Evercore ISI downgraded GoDaddy from an “outperform” rating to an “in-line” rating and lifted their target price for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $124.00 target price on shares of GoDaddy in a report on Thursday, March 7th. Finally, Morgan Stanley lifted their target price on GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.10.

Institutional Trading of GoDaddy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in GoDaddy during the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC bought a new stake in GoDaddy during the 4th quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV increased its holdings in GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after purchasing an additional 205 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in GoDaddy during the 1st quarter worth approximately $31,000. Finally, UMB Bank n.a. bought a new stake in GoDaddy during the 4th quarter worth approximately $50,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.