Traders Purchase High Volume of Call Options on GoDaddy (GDDY)

GoDaddy Inc. (NYSE:GDDY) was the target of some unusual options trading on Tuesday. Stock traders purchased 3,938 call options on the company. This represents an increase of approximately Infinity compared to the typical volume of 0 call options.

In other GoDaddy news, insider Barbara J. Rechterman sold 35,000 shares of GoDaddy stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $47.81, for a total transaction of $1,673,350.00. Following the completion of the transaction, the insider now owns 50,427 shares in the company, valued at approximately $2,410,914.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Auguste Goldman sold 8,000 shares of GoDaddy stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $48.62, for a total value of $388,960.00. Following the transaction, the senior vice president now owns 13,491 shares of the company’s stock, valued at approximately $655,932.42. The disclosure for this sale can be found here. Insiders have sold a total of 12,268,964 shares of company stock valued at $536,522,144 in the last quarter. Company insiders own 22.68% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its position in shares of GoDaddy by 21.7% during the 3rd quarter. Wells Fargo & Company MN now owns 61,242 shares of the technology company’s stock valued at $2,665,000 after purchasing an additional 10,902 shares in the last quarter. Amalgamated Bank grew its position in shares of GoDaddy by 46.9% during the 3rd quarter. Amalgamated Bank now owns 22,094 shares of the technology company’s stock valued at $961,000 after purchasing an additional 7,052 shares in the last quarter. Legal & General Group Plc grew its position in shares of GoDaddy by 86.5% during the 3rd quarter. Legal & General Group Plc now owns 42,017 shares of the technology company’s stock valued at $1,828,000 after purchasing an additional 19,488 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of GoDaddy by 32.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 12,243 shares of the technology company’s stock valued at $529,000 after purchasing an additional 3,032 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of GoDaddy by 4.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 187,012 shares of the technology company’s stock valued at $8,137,000 after purchasing an additional 7,923 shares in the last quarter. Institutional investors and hedge funds own 78.82% of the company’s stock.

GoDaddy (NYSE GDDY) opened at $48.15 on Friday. GoDaddy has a one year low of $32.00 and a one year high of $49.36. The firm has a market cap of $7,934.78, a P/E ratio of 155.32, a P/E/G ratio of 8.46 and a beta of 0.64. The company has a quick ratio of 0.69, a current ratio of 0.57 and a debt-to-equity ratio of 5.15.

Several equities analysts have commented on the stock. B. Riley reissued a “buy” rating and set a $53.00 target price on shares of GoDaddy in a research report on Wednesday, July 19th. TheStreet raised shares of GoDaddy from a “c-” rating to a “b-” rating in a research report on Tuesday, November 7th. Stifel Nicolaus set a $41.00 target price on shares of GoDaddy and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $53.00 target price (up previously from $50.00) on shares of GoDaddy in a research report on Tuesday, November 7th. Finally, SunTrust Banks, Inc. assumed coverage on shares of GoDaddy in a research report on Tuesday, August 15th. They set a “buy” rating and a $50.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. GoDaddy currently has a consensus rating of “Buy” and a consensus target price of $48.62.

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About GoDaddy

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.

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