GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 3,000 Shares

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $539,550.00. Following the sale, the chief executive officer now owns 443,947 shares of the company’s stock, valued at $79,843,867.95. This represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, March 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $180.66, for a total value of $541,980.00.
• On Monday, February 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00.

GoDaddy Stock Down 1.7 %

Shares of GoDaddy stock traded down $3.05 during trading on Thursday, reaching $177.45. The company had a trading volume of 1,838,558 shares, compared to its average volume of 1,429,155. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00. The firm’s fifty day moving average is $188.41 and its 200-day moving average is $184.78. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 27.51 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy during the 4th quarter valued at about $43,000. Rakuten Securities Inc. grew its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 165 shares during the last quarter. Friedenthal Financial acquired a new stake in GoDaddy during the fourth quarter worth about $49,000. Finally, OFI Invest Asset Management bought a new position in GoDaddy in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. UBS Group increased their target price on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Piper Sandler boosted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company initiated coverage on shares of GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

About GoDaddy

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.