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 firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $629,055.00. Following the transaction, the chief executive officer now owns 365,398 shares of the company’s stock, valued at approximately $51,078,986.42. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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 transaction of $1,055,792.00.
• On Tuesday, June 4th, Amanpal Singh Bhutani sold 6,825 shares of GoDaddy stock. The shares were sold at an average price of $138.09, for a total transaction of $942,464.25.

GoDaddy Trading Up 0.5 %

Shares of GoDaddy stock traded up $0.75 on Wednesday, hitting $143.69. 1,439,136 shares of the company traded hands, compared to its average volume of 1,695,331. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The company has a market cap of $20.50 billion, a PE ratio of 11.93 and a beta of 1.14. The stock’s 50 day moving average price is $135.52 and its 200-day moving average price is $120.88. GoDaddy Inc. has a 52 week low of $69.18 and a 52 week high of $145.36.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.00 by $0.08. The firm had revenue of $1.11 billion for 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%. Equities research analysts predict that GoDaddy Inc. will post 4.82 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Gulf International Bank UK Ltd boosted its stake in shares of GoDaddy by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock valued at $1,427,000 after purchasing an additional 113 shares in the last quarter. Sivia Capital Partners LLC boosted its position in GoDaddy by 3.9% during the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after acquiring an additional 113 shares in the last quarter. Ingalls & Snyder LLC increased its holdings in shares of GoDaddy by 0.3% in the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after acquiring an additional 120 shares during the period. GAMMA Investing LLC raised its position in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. Finally, Quent Capital LLC boosted its position in GoDaddy by 30.8% during the fourth quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock valued at $68,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GDDY. Raymond James started coverage on shares of GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price on the stock. Robert W. Baird raised their price objective on GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Barclays boosted their target price on GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. William Blair restated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Finally, Citigroup boosted their price objective 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. 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. According to data from MarketBeat.com, GoDaddy currently has an average 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.