GoDaddy Inc. (NYSE:GDDY) Short Interest Update

GoDaddy Inc. (NYSE:GDDY) was the target of a large growth in short interest in 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. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is currently 3.2 days.

GoDaddy Stock Down 1.3 %

GoDaddy stock opened at $182.92 on Monday. GoDaddy has a 12 month low of $91.68 and a 12 month high of $190.21. The stock has a market capitalization of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50 day simple moving average of $162.76 and a 200-day simple moving average of $151.21.

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

Insiders Place Their Bets

In other news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. This trade represents a 3.72 % 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. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents 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 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of GoDaddy

Several hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in GoDaddy by 20.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,554 shares of the technology company’s stock valued at $8,967,000 after purchasing an additional 12,651 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new stake in GoDaddy during the first quarter worth approximately $216,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in GoDaddy by 87.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,924 shares of the technology company’s stock valued at $23,049,000 after purchasing an additional 89,316 shares during the last quarter. Intech Investment Management LLC raised its holdings in GoDaddy by 143.3% during the first quarter. Intech Investment Management LLC now owns 16,489 shares of the technology company’s stock worth $1,957,000 after purchasing an additional 9,712 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler upped their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Five 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. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Company Profile

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.