GoDaddy (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 4,500 Shares of Company Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Bhutani sold 4,500 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $97.50, for a total transaction of $438,750.00. Following the completion of the transaction, the chief executive officer owned 500,053 shares in the company, valued at approximately $48,755,167.50. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, September 2nd, Amanpal Bhutani sold 8,194 shares of GoDaddy stock. The shares were sold at an average price of $101.19, for a total transaction 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.
• On Monday, August 3rd, Amanpal Bhutani sold 4,500 shares of GoDaddy stock. The shares were sold at an average price of $83.15, for a total transaction of $374,175.00.

GoDaddy Trading Up 2.7%

NYSE:GDDY traded up $2.61 during midday trading on Monday, hitting $99.82. The stock had a trading volume of 1,556,753 shares, compared to its average volume of 2,310,775. The stock has a 50-day moving average of $96.83 and a 200 day moving average of $89.30. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 14.81 and a beta of 0.94. GoDaddy Inc. has a one year low of $71.59 and a one year high of $139.44. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 561.10.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.14. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 EPS. As a group, sell-side analysts forecast that GoDaddy Inc. will post 7.23 EPS for the current year.

Institutional Trading of GoDaddy

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in GoDaddy by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock worth $399,089,000 after purchasing an additional 319,515 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of GoDaddy by 2.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,821,379 shares of the technology company’s stock worth $350,077,000 after buying an additional 56,086 shares during the period. WCM Investment Management LLC grew its holdings in shares of GoDaddy by 1.0% during the first quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company’s stock valued at $270,924,000 after buying an additional 33,509 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of GoDaddy by 9.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,456,110 shares of the technology company’s stock valued at $180,674,000 after acquiring an additional 123,993 shares during the period. Finally, Pacer Advisors Inc. raised its stake in GoDaddy by 67.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock worth $155,968,000 after acquiring an additional 504,374 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. B. Riley Financial lowered their target price on GoDaddy from $190.00 to $170.00 and set a “buy” rating for the company in a report 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. Raymond James Financial lowered shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 price target for the company. in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of GoDaddy to a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of GoDaddy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.69.

About GoDaddy

GoDaddy Inc (NYSE:GDDY) is a technology company that provides domain name registration and online services for individuals, entrepreneurs, and small businesses. Its platform enables customers to search for and manage domain names, establish an online presence, and build and maintain websites.

The company offers website and ecommerce tools, managed web hosting, business email, online marketing services, and website security products. GoDaddy also provides tools designed to help businesses manage digital content, customer engagement, appointments, payments, and other day-to-day online activities through an integrated platform.

Founded in 1997 as Jomax Technologies by entrepreneur Bob Parsons, the company later adopted the GoDaddy name and grew into a global provider of online services.