Short Interest in GoDaddy Inc. (NYSE:GDDY) Grows By 16.9%

GoDaddy Inc. (NYSE:GDDY) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,390,000 shares, an increase of 16.9% from the November 15th total of 2,900,000 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is currently 2.8 days. Currently, 2.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Robert W. Baird raised their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.57.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 1,554 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the sale, the chief accounting officer now owns 21,505 shares in the company, valued at $4,384,869.50. This represents a 6.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,503 shares of company stock worth $3,950,683 in the last three months. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of large investors have recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy in the second quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $30,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $31,000. Finally, ORG Partners LLC purchased a new position in shares of GoDaddy in the second quarter valued at about $32,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.6 %

NYSE:GDDY traded up $3.22 on Monday, hitting $210.00. The stock had a trading volume of 478,781 shares, compared to its average volume of 1,456,015. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $29.48 billion, a P/E ratio of 16.18 and a beta of 1.15. GoDaddy has a 1 year low of $99.90 and a 1 year high of $211.11. The firm’s fifty day simple moving average is $180.63 and its two-hundred day simple moving average is $160.59.

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 the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Analysts predict that GoDaddy will post 4.96 earnings per share for the current year.

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.