GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 4,500 Shares

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the sale, the chief executive officer now owns 365,398 shares in the company, valued at $51,078,986.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, June 7th, Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock. The stock was sold at an average price of $138.92, for a total transaction of $1,055,792.00.
• On Tuesday, June 4th, Amanpal Singh Bhutani sold 6,825 shares of GoDaddy stock. The stock was sold at an average price of $138.09, for a total transaction of $942,464.25.

GoDaddy Stock Performance

GDDY opened at $143.69 on Thursday. GoDaddy Inc. has a 1-year low of $69.18 and a 1-year high of $145.36. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 11.93 and a beta of 1.14. The company’s fifty day moving average price is $135.92 and its two-hundred day moving average price is $121.04. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. On average, analysts expect that GoDaddy Inc. will post 4.82 EPS for the current fiscal year.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Norges Bank purchased a new position in shares of GoDaddy in the 4th quarter worth about $181,687,000. Jacobs Levy Equity Management Inc. grew its position in GoDaddy by 71.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after buying an additional 695,897 shares during the period. Finally, Federated Hermes Inc. grew its position in GoDaddy by 3,402.0% during the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after buying an additional 928,273 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GDDY. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of GoDaddy in a research report on Wednesday, May 1st. Citigroup raised their target price on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. B. Riley lifted their target price on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. UBS Group increased their price target on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Barclays lifted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.92.

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.