GoDaddy Inc. (NYSE:GDDY) Short Interest Up 16.9% in November

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

Analyst Upgrades and Downgrades

GDDY has been the topic of several research analyst reports. Piper Sandler boosted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. B. Riley upped their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy Stock Up 1.1 %

Shares of GDDY stock traded up $2.25 during trading hours on Monday, reaching $209.03. 907,447 shares of the stock were exchanged, compared to its average volume of 1,458,022. The business’s fifty day moving average is $180.63 and its two-hundred day moving average is $160.59. The firm has a market capitalization of $29.35 billion, a P/E ratio of 16.15 and a beta of 1.15. GoDaddy has a 12-month low of $99.90 and a 12-month high of $211.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last released 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 return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the firm posted $0.89 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts expect that GoDaddy will post 4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the transaction, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $3,950,683 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of GoDaddy by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company’s stock valued at $68,565,000 after purchasing an additional 38,511 shares during the period. Tidal Investments LLC boosted its holdings in shares of GoDaddy by 38.7% in the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock valued at $2,923,000 after acquiring an additional 5,205 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of GoDaddy during the third quarter worth approximately $922,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the 3rd quarter valued at $31,000. Finally, Te Ahumairangi Investment Management Ltd boosted its stake in GoDaddy by 86.8% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock worth $2,340,000 after purchasing an additional 6,974 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

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.