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 company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares of the company’s stock, valued at approximately $91,350,548.34. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 shares were sold at an average price of $199.01, for a total value of $597,030.00.

GoDaddy Price Performance

NYSE:GDDY opened at $176.29 on Thursday. GoDaddy Inc. has a 52 week low of $109.16 and a 52 week high of $216.00. The stock’s fifty day moving average is $196.74 and its two-hundred day moving average is $182.11. The company has a market capitalization of $24.92 billion, a P/E ratio of 27.33 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last issued 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 company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Equities analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on GDDY shares. Morgan Stanley increased their price objective on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. B. Riley increased their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Raymond James upped their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Barclays raised their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Seven 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Hedge Funds Weigh In On GoDaddy

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after buying an additional 3,631 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after buying an additional 9,631 shares during the period. Dai ichi Life Insurance Company Ltd lifted its stake in GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after acquiring an additional 17,021 shares in the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in GoDaddy during the 4th quarter valued at about $1,045,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Company Profile

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.