Short Interest in GoDaddy Inc. (NYSE:GDDY) Increases By 16.0%

GoDaddy Inc. (NYSE:GDDYGet Free Report) saw a significant 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 daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 3.2 days. Approximately 2.5% of the company’s stock are short sold.

GoDaddy Stock Down 1.3 %

Shares of GoDaddy stock traded down $2.37 on Friday, hitting $182.92. 1,354,914 shares of the company traded hands, compared to its average volume of 1,462,919. The company has a market cap of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11. The company has a 50-day moving average price of $162.76 and a 200 day moving average price of $151.01. 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 has a 12-month low of $91.68 and a 12-month high of $190.21.

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

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,844 shares of company stock valued at $4,619,397 over the last quarter. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GDDY. Vanguard Group Inc. grew its position in GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after acquiring an additional 379,228 shares during the period. State Street Corp boosted its stake in shares of GoDaddy by 2.2% in the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Geode Capital Management LLC increased its position in shares of GoDaddy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after purchasing an additional 84,550 shares in the last quarter. Finally, FMR LLC lifted its holdings in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GDDY. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Piper Sandler lifted their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

View Our Latest Stock Report on GDDY

GoDaddy Company Profile

(Get Free Report)

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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