GoDaddy Inc. (NYSE:GDDY) CEO Sells $623,100.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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.
• On Monday, December 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The stock was sold at an average price of $197.77, for a total value of $593,310.00.

GoDaddy Stock Performance

GoDaddy stock traded down $0.79 on Wednesday, hitting $209.64. The company’s stock had a trading volume of 981,118 shares, compared to its average volume of 1,102,544. The firm has a market cap of $29.43 billion, a P/E ratio of 16.20 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a one year low of $107.92 and a one year high of $216.00. The company has a fifty day moving average price of $203.64 and a 200-day moving average price of $177.05.

Analysts Set New Price Targets

Several brokerages have commented on GDDY. Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Benchmark upped their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company began coverage on GoDaddy in a research note on Monday. They set an “equal weight” rating and a $198.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.07.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the 3rd quarter worth $30,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy in the 4th quarter valued at about $43,000. Finally, Huntington National Bank increased its stake in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

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.