GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 7,600 Shares of Stock

GoDaddy Inc. (NYSE:GDDYGet Free Report) CEO Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock in a transaction on Friday, June 7th. The shares were sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the sale, the chief executive officer now directly owns 369,898 shares of the company’s stock, valued at approximately $51,386,230.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

  • 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.
  • On Thursday, March 21st, Amanpal Singh Bhutani sold 2,500 shares of GoDaddy stock. The shares were sold at an average price of $120.00, for a total value of $300,000.00.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $142.07 on Tuesday. The company has a market cap of $20.27 billion, a price-to-earnings ratio of 11.80 and a beta of 1.10. The business has a 50 day moving average price of $130.55 and a 200 day moving average price of $116.71. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy Inc. has a twelve month low of $69.18 and a twelve month high of $142.95.

GoDaddy (NYSE:GDDYGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Research analysts predict that GoDaddy Inc. will post 4.82 earnings per share for the current year.

Institutional Trading of GoDaddy

A number of hedge funds have recently bought and sold shares of GDDY. Price T Rowe Associates Inc. MD raised its position in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Norges Bank acquired a new position in GoDaddy in the 4th quarter valued at approximately $181,687,000. Federated Hermes Inc. lifted its position in shares of GoDaddy by 3,402.0% in the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after acquiring an additional 928,273 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of GoDaddy by 7,379.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock worth $76,834,000 after purchasing an additional 714,075 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in GoDaddy by 71.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after buying an additional 695,897 shares during the period. 90.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GDDY shares. Barclays lifted their price target on GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. William Blair reissued an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Benchmark reiterated a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a report on Wednesday, May 1st. Finally, Royal Bank of Canada raised their target price on GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.92.

Read Our Latest Stock Analysis on GoDaddy

GoDaddy Company Profile

(Get Free Report)

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.

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