GoDaddy Inc. (NYSE:GDDY) Short Interest Update

GoDaddy Inc. (NYSE:GDDYGet Rating) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 5,740,000 shares, a drop of 20.9% from the March 15th total of 7,260,000 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is currently 3.3 days.

In other GoDaddy news, CAO Nick Daddario sold 1,400 shares of GoDaddy stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $82.47, for a total value of $115,458.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 1,987 shares of GoDaddy stock in a transaction on Monday, April 4th. The stock was sold at an average price of $86.51, for a total transaction of $171,895.37. Following the completion of the transaction, the chief executive officer now directly owns 224,051 shares of the company’s stock, valued at $19,382,652.01. The disclosure for this sale can be found here. Insiders have sold 18,949 shares of company stock valued at $1,550,449 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Norwood Financial Corp purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $34,000. Tobam grew its position in shares of GoDaddy by 524.5% in the 3rd quarter. Tobam now owns 662 shares of the technology company’s stock worth $46,000 after buying an additional 556 shares during the last quarter. Desjardins Global Asset Management Inc. purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $47,000. National Bank of Canada FI purchased a new stake in GoDaddy during the 4th quarter worth approximately $48,000. Finally, Assetmark Inc. grew its position in GoDaddy by 112.3% during the 3rd quarter. Assetmark Inc. now owns 777 shares of the technology company’s stock worth $54,000 after purchasing an additional 411 shares during the last quarter.

Several research firms have recently issued reports on GDDY. StockNews.com began coverage on shares of GoDaddy in a report on Thursday, March 31st. They issued a “buy” rating for the company. Piper Sandler raised their target price on shares of GoDaddy from $85.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, February 14th. Raymond James raised their target price on shares of GoDaddy from $100.00 to $107.00 and gave the stock a “strong-buy” rating in a report on Friday, February 11th. Benchmark began coverage on shares of GoDaddy in a report on Wednesday, April 13th. They issued a “buy” rating and a $102.00 target price for the company. Finally, Morgan Stanley lifted their price objective on shares of GoDaddy from $81.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, February 14th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $98.40.

NYSE GDDY traded up $1.00 during trading on Tuesday, reaching $86.82. 10,800 shares of the company’s stock traded hands, compared to its average volume of 1,737,656. The company has a debt-to-equity ratio of 46.37, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $14.54 billion, a price-to-earnings ratio of 61.13, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00. The company’s 50 day simple moving average is $82.06 and its two-hundred day simple moving average is $76.12. GoDaddy has a 12-month low of $65.70 and a 12-month high of $90.43.

GoDaddy (NYSE:GDDYGet Rating) last posted its earnings results on Thursday, February 10th. The technology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $973.09 million. GoDaddy had a net margin of 6.35% and a negative return on equity of 805.65%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Research analysts expect that GoDaddy will post 2.19 earnings per share for the current fiscal year.

GoDaddy Company Profile (Get Rating)

GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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