Stock Traders Purchase High Volume of GoDaddy Put Options (NYSE:GDDY)

GoDaddy Inc. (NYSE:GDDY) was the recipient of some unusual options trading on Monday. Investors bought 3,438 put options on the company. This is an increase of approximately 211% compared to the average daily volume of 1,104 put options.

Analyst Ratings Changes

GDDY has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. UBS Group lowered their target price on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Benchmark dropped their price target on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Morgan Stanley cut their price target on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Finally, Royal Bank Of Canada decreased their price objective on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.57.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the sale, the chief accounting officer owned 20,349 shares of the company’s stock, valued at approximately $1,834,462.35. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Leah Sweet sold 650 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the sale, the director owned 11,414 shares of the company’s stock, valued at $991,420.04. This trade represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 61,918 shares of company stock worth $5,500,469. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently modified their holdings of GDDY. Rockefeller Capital Management L.P. increased its position in shares of GoDaddy by 29.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,049 shares of the technology company’s stock valued at $502,000 after acquiring an additional 912 shares during the last quarter. Corient Private Wealth LLC boosted its position in GoDaddy by 12.9% in the fourth quarter. Corient Private Wealth LLC now owns 9,779 shares of the technology company’s stock worth $1,213,000 after purchasing an additional 1,116 shares during the last quarter. Pacer Advisors Inc. grew its stake in GoDaddy by 67.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock valued at $155,968,000 after purchasing an additional 504,374 shares during the period. Invesco Ltd. grew its stake in GoDaddy by 9.3% in the 4th quarter. Invesco Ltd. now owns 2,209,899 shares of the technology company’s stock valued at $274,204,000 after purchasing an additional 187,839 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of GoDaddy by 85.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,531 shares of the technology company’s stock valued at $3,788,000 after purchasing an additional 14,053 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY opened at $81.86 on Tuesday. GoDaddy has a 1 year low of $73.06 and a 1 year high of $193.55. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.71 and a beta of 0.96. The firm’s fifty day moving average price is $91.02 and its two-hundred day moving average price is $115.67.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts anticipate that GoDaddy will post 6.63 earnings per share for the current fiscal year.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.