GoDaddy Inc. (NYSE:GDDY) Short Interest Down 16.7% in November

GoDaddy Inc. (NYSE:GDDY) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,900,000 shares, a decrease of 16.7% from the October 31st total of 3,480,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.1% of the shares of the company are sold short.

GoDaddy Trading Down 0.1 %

NYSE GDDY traded down $0.28 during mid-day trading on Friday, reaching $197.57. 1,047,069 shares of the stock were exchanged, compared to its average volume of 1,461,375. The stock has a market cap of $27.74 billion, a P/E ratio of 15.27 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy has a one year low of $98.13 and a one year high of $202.56. The stock has a 50 day simple moving average of $170.85 and a 200-day simple moving average of $155.58.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts anticipate that GoDaddy will post 4.95 EPS for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of several research analyst reports. Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $173.31.

Insider Activity

In related news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the transaction, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,345 shares of company stock valued at $3,897,255. 0.61% of the stock is owned by insiders.

Institutional Trading of GoDaddy

Several large investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the 3rd quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy in the third quarter valued at approximately $30,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy during the second quarter valued at approximately $28,000. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter worth $31,000. Finally, ORG Partners LLC purchased a new stake in GoDaddy in the 2nd quarter valued at $32,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

About GoDaddy

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.