GoDaddy Inc. (NYSE:GDDY) CEO Sells $956,760.00 in Stock

Key Points

• Amanpal Singh Bhutani, CEO of GoDaddy Inc., sold 6,000 shares of the company's stock for a total of $956,760, reducing his ownership by 1.41% to 419,015 shares valued at approximately $66.8 million.
• GoDaddy's stock recently traded down 3.0%, closing at $153.34, with a one-year low of $147.49 and a high of $216.00.
• Several analysts have lowered their price targets on GoDaddy, with a consensus rating of "Moderate Buy" and an average target price of $214.86, although Citigroup and JPMorgan have maintained buy ratings.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) CEO Amanpal Singh Bhutani sold 6,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $159.46, for a total value of $956,760.00. Following the completion of the sale, the chief executive officer owned 419,015 shares of the company's stock, valued at $66,816,131.90. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, July 2nd, Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock. The shares were sold at an average price of $176.93, for a total value of $1,061,580.00.
• On Tuesday, June 3rd, Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock. The shares were sold at an average price of $179.81, for a total value of $1,246,442.92.
• On Monday, June 2nd, Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock. The shares were sold at an average price of $182.03, for a total value of $546,090.00.

GoDaddy Trading Down 3.0%

Shares of GoDaddy stock traded down $4.81 on Tuesday, hitting $153.34. 3,107,856 shares of the company's stock traded hands, compared to its average volume of 1,492,432. GoDaddy Inc. has a one year low of $147.49 and a one year high of $216.00. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a fifty day moving average of $174.54 and a two-hundred day moving average of $181.36. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of 29.49 and a beta of 1.08.

Analyst Ratings Changes

Several analysts recently weighed in on GDDY shares. Citigroup dropped their price objective on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Barclays lowered their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Benchmark reissued a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Raymond James Financial Inc. bought a new position in GoDaddy in the fourth quarter worth approximately $44,668,000. Massachusetts Financial Services Co. MA boosted its holdings in GoDaddy by 13.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 45,242 shares of the technology company's stock worth $8,929,000 after acquiring an additional 5,457 shares in the last quarter. ExodusPoint Capital Management LP bought a new position in GoDaddy in the fourth quarter worth approximately $4,138,000. Resona Asset Management Co. Ltd. bought a new position in GoDaddy in the fourth quarter worth approximately $12,452,000. Finally, Aviva PLC boosted its holdings in GoDaddy by 917.6% in the fourth quarter. Aviva PLC now owns 87,049 shares of the technology company's stock worth $17,181,000 after acquiring an additional 78,495 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

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.

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