GoDaddy Inc. (NYSE:GDDY) Short Interest Down 6.5% in September

GoDaddy Inc. (NYSE:GDDY) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 3,300,000 shares, a decline 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 days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

GDDY has been the topic of several recent research reports. Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. B. Riley boosted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Stock Performance

NYSE GDDY opened at $156.00 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $22.26 billion, a P/E ratio of 12.96 and a beta of 1.13. GoDaddy has a 12-month low of $71.15 and a 12-month high of $167.65. The firm has a 50-day moving average price of $155.52 and a two-hundred day moving average price of $140.43.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Analysts anticipate that GoDaddy will post 5.06 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the sale, the chief operating officer now directly owns 188,632 shares in the company, valued at $27,630,815.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,244 shares of company stock valued at $3,628,171. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of GoDaddy

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of GoDaddy during the 2nd quarter worth approximately $1,097,000. Cetera Investment Advisers lifted its holdings in shares of GoDaddy by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 17,962 shares of the technology company’s stock worth $2,509,000 after acquiring an additional 1,764 shares during the period. Truist Financial Corp lifted its holdings in shares of GoDaddy by 1.1% during the 2nd quarter. Truist Financial Corp now owns 35,534 shares of the technology company’s stock worth $4,964,000 after acquiring an additional 393 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of GoDaddy during the 2nd quarter worth approximately $245,000. Finally, Invst LLC lifted its holdings in shares of GoDaddy by 4.8% during the 2nd quarter. Invst LLC now owns 7,558 shares of the technology company’s stock worth $1,069,000 after acquiring an additional 349 shares during the period. Institutional investors 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.