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

GoDaddy Inc. (NYSE:GDDY - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,260,000 shares, a decline of 26.9% from the January 15th total of 3,090,000 shares. Approximately 1.6% of the company's stock are short sold. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 1.8 days.

GoDaddy Trading Up 0.0 %

Shares of GDDY stock traded up $0.01 during trading hours on Thursday, reaching $176.56. 1,600,604 shares of the stock traded hands, compared to its average volume of 1,332,415. GoDaddy has a 1-year low of $108.02 and a 1-year high of $216.00. The business has a fifty day moving average price of $202.02 and a 200 day moving average price of $180.74. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $24.79 billion, a PE ratio of 27.37 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. On average, equities research analysts forecast that GoDaddy will post 6.53 EPS for the current year.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now owns 184,632 shares of the company's stock, valued at approximately $38,283,445.20. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares of the company's stock, valued at $67,826,408.12. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,482 shares of company stock valued at $4,903,930 in the last quarter. Company insiders own 0.61% of the company's stock.

Institutional Trading of GoDaddy

Several large investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of GoDaddy by 2.2% during the 3rd quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock worth $1,080,549,000 after buying an additional 147,105 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock worth $751,778,000 after buying an additional 395,160 shares during the period. Geode Capital Management LLC boosted its holdings in shares of GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after buying an additional 90,810 shares during the period. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after buying an additional 3,356,678 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after buying an additional 304,033 shares during the period. 90.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on GDDY shares. Robert W. Baird boosted 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. Barclays boosted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Citigroup boosted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Benchmark boosted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company initiated coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and an average price target of $213.20.

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.