Godaddy Inc (NYSE:GDDY) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totalling 9,190,000 shares, an increase of 17.7% from the July 30th total of 7,810,000 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is presently 5.4 days.
A number of brokerages have commented on GDDY. JMP Securities raised their price target on shares of Godaddy from $93.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $96.00 price objective on shares of Godaddy in a report on Tuesday, August 11th. Raymond James upgraded Godaddy from an “outperform” rating to a “strong-buy” rating and set a $96.00 price objective on the stock in a research report on Thursday, August 6th. Wedbush raised their target price on shares of Godaddy from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Piper Sandler boosted their price target on shares of Godaddy from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $92.20.
In other Godaddy news, COO Ah Kee Andrew Low sold 9,348 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $79.74, for a total transaction of $745,409.52. Following the completion of the transaction, the chief operating officer now owns 127,757 shares of the company’s stock, valued at approximately $10,187,343.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nima Kelly sold 3,626 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $73.30, for a total transaction of $265,785.80. Following the sale, the insider now owns 114,713 shares of the company’s stock, valued at $8,408,462.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,879 shares of company stock worth $5,683,986. Corporate insiders own 0.52% of the company’s stock.
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Several large investors have recently added to or reduced their stakes in GDDY. Newbrook Capital Advisors LP acquired a new stake in Godaddy in the first quarter valued at $59,955,000. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Godaddy by 79.4% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 959,459 shares of the technology company’s stock valued at $54,795,000 after purchasing an additional 424,688 shares during the last quarter. Federated Hermes Inc. grew its holdings in Godaddy by 33.0% during the second quarter. Federated Hermes Inc. now owns 1,588,672 shares of the technology company’s stock worth $116,498,000 after purchasing an additional 394,065 shares during the period. Capital International Investors increased its position in Godaddy by 4.9% during the first quarter. Capital International Investors now owns 7,714,470 shares of the technology company’s stock worth $440,580,000 after buying an additional 361,238 shares during the last quarter. Finally, FDx Advisors Inc. increased its position in Godaddy by 4,103.6% during the first quarter. FDx Advisors Inc. now owns 335,952 shares of the technology company’s stock worth $9,339,000 after buying an additional 327,960 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:GDDY traded down $2.34 during midday trading on Friday, reaching $79.52. The company had a trading volume of 1,821,484 shares, compared to its average volume of 1,581,320. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 5.24. The business’s 50 day moving average price is $76.63 and its 200 day moving average price is $70.91. The stock has a market cap of $13.75 billion, a PE ratio of 68.22, a P/E/G ratio of 2.95 and a beta of 0.87. Godaddy has a 1-year low of $40.25 and a 1-year high of $89.00.
Godaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported ($4.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($4.23). Godaddy had a negative net margin of 15.72% and a positive return on equity of 50.04%. On average, research analysts expect that Godaddy will post 1.13 earnings per share for the current fiscal year.
About Godaddy
GoDaddy Inc designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals 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; and hosting products, including shared Website hosting, Website hosting on virtual private servers and virtual dedicated servers, managed hosting, and security.
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