GoDaddy (NYSE:GDDY) CEO Amanpal Singh Bhutani Sells 8,373 Shares

GoDaddy Inc. (NYSE:GDDYGet Free Report) CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the sale, the chief executive officer owned 521,747 shares in the company, valued at approximately $46,884,185.42. The trade was a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

GoDaddy Trading Up 1.1%

GoDaddy stock opened at $84.87 on Friday. The stock has a market cap of $11.24 billion, a P/E ratio of 13.43, a PEG ratio of 0.76 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $183.34. The firm’s 50 day moving average price is $85.64 and its 200-day moving average price is $99.70.

GoDaddy (NYSE:GDDYGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $1.51 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler assumed coverage on GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target for the company. Jefferies Financial Group dropped their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a research note on Monday, February 23rd. Barclays cut their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Evercore set a $95.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Finally, UBS Group assumed coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

Check Out Our Latest Stock Report on GoDaddy

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently bought and sold shares of GDDY. Norges Bank bought a new position in GoDaddy during the fourth quarter valued at $250,020,000. AQR Capital Management LLC lifted its position in GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after buying an additional 1,615,005 shares during the last quarter. Ameriprise Financial Inc. lifted its position in GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after buying an additional 1,128,646 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after acquiring an additional 814,360 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of GoDaddy by 318.6% in the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock worth $100,632,000 after acquiring an additional 559,757 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

About GoDaddy

(Get Free Report)

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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Insider Buying and Selling by Quarter for GoDaddy (NYSE:GDDY)

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