GoDaddy Inc. (NYSE:GDDY) Short Interest Update

GoDaddy Inc. (NYSE:GDDY) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,480,000 shares, a growth of 16.0% from the October 15th total of 3,000,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is presently 3.2 days. Currently, 2.5% of the company’s shares are sold short.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,844 shares of company stock valued at $4,619,397. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of large investors have recently made changes to their positions in GDDY. Price T Rowe Associates Inc. MD boosted its stake in shares of GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares during the period. Kodai Capital Management LP bought a new stake in shares of GoDaddy during the 1st quarter worth $75,855,000. Federated Hermes Inc. boosted its stake in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC grew its position in GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Down 1.3 %

GDDY stock opened at $182.92 on Monday. GoDaddy has a 1-year low of $91.68 and a 1-year high of $190.21. The business’s 50 day simple moving average is $162.76 and its 200 day simple moving average is $151.21. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market capitalization of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. As a group, research analysts anticipate that GoDaddy will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $171.38.

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.