GoDaddy Inc. (NYSE:GDDY) Short Interest Up 16.9% in November

GoDaddy Inc. (NYSE:GDDY) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 3,390,000 shares, a growth of 16.9% from the November 15th total of 2,900,000 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average trading volume of 1,190,000 shares, the days-to-cover ratio is presently 2.8 days.

GoDaddy Stock Performance

GDDY traded up $3.39 during midday trading on Monday, hitting $210.17. 436,926 shares of the company traded hands, compared to its average volume of 1,455,857. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company’s 50-day moving average is $180.63 and its 200 day moving average is $160.59. GoDaddy has a 52 week low of $99.90 and a 52 week high of $211.11. The firm has a market capitalization of $29.51 billion, a PE ratio of 16.18 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, research analysts expect that GoDaddy will post 4.96 EPS for the current year.

Analyst Ratings Changes

GDDY has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird raised their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. B. Riley lifted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $181.57.

Insider Buying and Selling at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction 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. This represents a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Phontip Palitwanon sold 1,554 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the transaction, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $3,950,683 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy during the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy in the 3rd quarter worth approximately $30,000. Transcendent Capital Group LLC bought a new position in shares of GoDaddy during the 2nd quarter valued at approximately $28,000. Anchor Investment Management LLC purchased a new stake in GoDaddy during the 3rd quarter valued at $31,000. Finally, ORG Partners LLC purchased a new position in GoDaddy during the second quarter worth $32,000. 90.28% of the stock is owned by institutional investors.

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.