GoDaddy Inc. (NYSE:GDDY) Short Interest Update

GoDaddy Inc. (NYSE:GDDY) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 3,300,000 shares, a drop of 6.5% from the August 31st total of 3,530,000 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is currently 2.5 days.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $153.16 on Wednesday. The company’s fifty day moving average is $155.72 and its two-hundred day moving average is $140.87. The company has a market cap of $21.85 billion, a P/E ratio of 13.02 and a beta of 1.13. GoDaddy has a 12-month low of $71.15 and a 12-month high of $167.65. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. Equities analysts expect that GoDaddy will post 5.06 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the sale, the chief executive officer now owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The disclosure for this sale can be found here. Insiders sold 23,244 shares of company stock worth $3,628,171 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of GoDaddy by 94.4% during 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. Kodai Capital Management LP acquired a new position in GoDaddy during the first quarter worth $75,855,000. Federated Hermes Inc. raised its holdings in GoDaddy by 35.6% during 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. Vanguard Group Inc. lifted its position in shares of GoDaddy by 2.6% in the first 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. Finally, Acadian Asset Management LLC boosted its stake in shares of GoDaddy by 676.1% during the 1st quarter. Acadian Asset Management LLC now owns 347,074 shares of the technology company’s stock worth $41,181,000 after acquiring an additional 302,352 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on GDDY. Robert W. Baird upped their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Benchmark boosted their target price on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada raised their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

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.