GoDaddy Inc. (NYSE:GDDY) Sees Significant Growth in Short Interest

GoDaddy Inc. (NYSE:GDDY - Get Free Report) saw a large increase in short interest in 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 daily 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.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the sale, the chief executive officer now owns 348,956 shares in the company, valued at $54,297,553.60. This trade represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $855,800.00. Following the sale, the chief financial officer now owns 93,102 shares of the company's stock, valued at approximately $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,503 shares of company stock worth $3,950,683. Corporate insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the third quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new position in GoDaddy during the second quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy in the third quarter valued at $30,000. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth about $31,000. Finally, ORG Partners LLC purchased a new position in shares of GoDaddy during the 2nd quarter valued at about $32,000. Institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

GoDaddy stock traded up $2.25 during mid-day trading on Monday, hitting $209.03. The stock had a trading volume of 907,447 shares, compared to its average volume of 1,458,022. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm's 50 day moving average is $180.63 and its 200 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 one year low of $99.90 and a one year high of $211.11.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the company posted $0.89 EPS. The business's revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that GoDaddy will post 4.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. StockNews.com lowered GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Royal Bank of Canada restated an "outperform" rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Jefferies Financial Group increased their price target on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler lifted their price target 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. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and an average target price of $181.57.

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.