GoDaddy Inc. (NYSE:GDDY) CEO Sells $300,000.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $120.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 384,323 shares in the company, valued at approximately $46,118,760. The transaction was disclosed in a document filed 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 shares were 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 shares were 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 shares were sold at an average price of $114.11, for a total value of $991,273.57.

GoDaddy Trading Up 0.9 %

Shares of GDDY opened at $122.07 on Thursday. The stock has a fifty day moving average price of $112.79 and a two-hundred day moving average price of $97.44. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $122.83. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 12.74 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analysts predict that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on GDDY shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $124.00 target price on shares of GoDaddy in a report on Thursday, March 7th. Evercore ISI lowered GoDaddy from an “outperform” rating to an “in-line” rating and lifted their price objective for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Piper Sandler lifted their price objective on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Barclays lifted their price objective on GoDaddy from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, B. Riley boosted their price target on GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $135.10.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of GoDaddy during the fourth quarter worth $28,000. Frazier Financial Advisors LLC bought a new stake in shares of GoDaddy during the fourth quarter worth $33,000. Massmutual Trust Co. FSB ADV raised its position in shares of GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in shares of GoDaddy during the first quarter worth $31,000. Finally, UMB Bank n.a. bought a new stake in shares of GoDaddy during the fourth quarter worth $50,000. Institutional investors own 90.28% of the company’s stock.

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.