Insider Selling: GoDaddy Inc. (NYSE:GDDY) CEO Sells $541,980.00 in Stock

GoDaddy Inc. (NYSE:GDDY) CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the sale, the chief executive officer now directly owns 505,649 shares of the company’s stock, valued at $91,350,548.34. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

GoDaddy Stock Down 2.3 %

Shares of GDDY stock opened at $172.17 on Friday. GoDaddy Inc. has a 1-year low of $110.59 and a 1-year high of $216.00. The stock’s fifty day moving average price is $196.06 and its 200 day moving average price is $182.04. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market cap of $24.34 billion, a price-to-earnings ratio of 26.69 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. On average, research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Private Advisor Group LLC purchased a new position in GoDaddy during the 3rd quarter worth $343,000. Wealth Enhancement Advisory Services LLC lifted its position in GoDaddy by 31.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,944 shares of the technology company’s stock worth $775,000 after acquiring an additional 1,187 shares during the period. US Bancorp DE lifted its position in GoDaddy by 22.3% during the 3rd quarter. US Bancorp DE now owns 37,458 shares of the technology company’s stock worth $5,873,000 after acquiring an additional 6,827 shares during the period. Optas LLC lifted its position in GoDaddy by 5.8% during the 3rd quarter. Optas LLC now owns 2,091 shares of the technology company’s stock worth $328,000 after acquiring an additional 114 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in GoDaddy by 14.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 357,175 shares of the technology company’s stock worth $55,998,000 after acquiring an additional 46,133 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays raised their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. UBS Group lifted their target price on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Benchmark lifted their target price on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their target price on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Seven investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $213.20.

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.