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 the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares of the company’s stock, valued at $91,350,548.34. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, February 3rd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $207.70, for a total value of $623,100.00.
• On Thursday, January 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $199.01, for a total value of $597,030.00.

GoDaddy Trading Down 0.7 %

Shares of NYSE GDDY traded down $1.24 during midday trading on Tuesday, hitting $176.46. The stock had a trading volume of 2,278,605 shares, compared to its average volume of 1,339,362. The company’s 50-day simple moving average is $197.35 and its 200 day simple moving average is $182.15. The firm has a market cap of $24.94 billion, a P/E ratio of 27.36 and a beta of 1.15. GoDaddy Inc. has a fifty-two week low of $108.38 and a fifty-two week high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during 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%. Research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Institutional Investors Weigh In On GoDaddy

Institutional investors have recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy during the third quarter worth $27,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the fourth quarter worth $43,000. Rakuten Securities Inc. grew its stake in shares of GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of GoDaddy during the fourth quarter worth $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. B. Riley raised their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Raymond James raised their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler raised their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Morgan Stanley raised their price target on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.