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

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now owns 330,153 shares in the company, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00.
• On Monday, December 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00.

GoDaddy Trading Down 0.4 %

NYSE GDDY traded down $0.79 during trading hours on Wednesday, hitting $209.64. 981,118 shares of the company’s stock were exchanged, compared to its average volume of 1,102,544. The firm has a market cap of $29.43 billion, a price-to-earnings ratio of 16.20 and a beta of 1.15. The stock has a 50-day simple moving average of $203.64 and a 200 day simple moving average of $177.05. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 1-year low of $107.92 and a 1-year high of $216.00.

Institutional Trading of GoDaddy

Hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC boosted its stake in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of GoDaddy during the fourth quarter worth approximately $111,923,000. Wedge Capital Management L L P NC lifted its stake in shares of GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after buying an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after buying an additional 350,839 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in shares of GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after acquiring an additional 349,358 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of research reports. Citigroup boosted their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Piper Sandler upped their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their price target on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group lifted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.07.

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.