GoDaddy Inc. (NYSE:GDDY) Short Interest Update

GoDaddy Inc. (NYSE:GDDY) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,480,000 shares, an increase of 16.0% from the October 15th total of 3,000,000 shares. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.5% of the shares of the stock are short sold.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction 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. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDDY. Highland Capital Management LLC acquired a new position in GoDaddy in the third quarter worth about $1,132,000. Principal Financial Group Inc. increased its holdings in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Plato Investment Management Ltd boosted its position in GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after buying an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after buying an additional 35,703 shares during the period. Finally, Swedbank AB raised its position in shares of GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after acquiring an additional 5,247 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on GDDY shares. Barclays lifted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Benchmark lifted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird increased their price objective on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. B. Riley lifted their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler increased their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $182.92 on Monday. The company has a market cap of $25.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11. The business has a 50 day moving average price of $162.76 and a 200 day moving average price of $151.21. 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 twelve month low of $91.68 and a twelve month high of $190.21.

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

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.