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

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $138.92, for a total value 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 value of $942,464.25.

GoDaddy Price Performance

Shares of GoDaddy stock traded up $0.75 during midday trading on Wednesday, hitting $143.69. 1,439,136 shares of the company traded hands, compared to its average volume of 1,695,331. The firm’s fifty day moving average price is $135.52 and its 200-day moving average price is $120.88. The stock has a market cap of $20.50 billion, a price-to-earnings ratio of 11.93 and a beta of 1.14. GoDaddy Inc. has a 12 month low of $69.18 and a 12 month high of $145.36. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. As a group, sell-side analysts forecast that GoDaddy Inc. will post 4.82 earnings per share for the current year.

Hedge Funds Weigh In On GoDaddy

Institutional investors and hedge funds have recently bought and sold shares of the company. Fiera Capital Corp increased its position in GoDaddy by 1.3% in the 4th quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock valued at $87,914,000 after buying an additional 10,312 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in GoDaddy during the 4th quarter worth approximately $4,204,000. International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the fourth quarter worth approximately $1,972,000. SG Americas Securities LLC lifted its holdings in shares of GoDaddy by 644.6% in the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock valued at $15,886,000 after purchasing an additional 129,547 shares in the last quarter. Finally, Horrell Capital Management Inc. boosted its position in shares of GoDaddy by 41.7% during the fourth quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock valued at $7,219,000 after buying an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GDDY shares. Morgan Stanley increased their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Citigroup lifted their price target on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Raymond James began coverage on GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price target on the stock. Finally, Barclays lifted their price objective on GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.92.

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.