GoDaddy Inc. (NYSE:GDDY) Short Interest Up 22.7% in June

GoDaddy Inc. (NYSE:GDDY) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 3,570,000 shares, a growth of 22.7% from the May 31st total of 2,910,000 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is currently 2.0 days.

GoDaddy Stock Up 1.0 %

Shares of NYSE:GDDY traded up $1.46 during trading on Tuesday, hitting $142.96. The company’s stock had a trading volume of 1,737,393 shares, compared to its average volume of 1,697,364. The business has a 50 day moving average price of $135.52 and a two-hundred day moving average price of $120.88. The company has a market capitalization of $20.40 billion, a PE ratio of 11.87 and a beta of 1.14. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. GoDaddy has a fifty-two week low of $69.18 and a fifty-two week high of $143.37.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.00 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. As a group, research analysts expect that GoDaddy will post 4.82 EPS for the current fiscal year.

Insider Activity

In other news, CAO Nick Daddario sold 7,278 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,011,059.76. Following the sale, the chief accounting officer now directly owns 18,388 shares in the company, valued at approximately $2,554,460.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 7,600 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $138.92, for a total value of $1,055,792.00. Following the transaction, the chief executive officer now owns 369,898 shares in the company, valued at approximately $51,386,230.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nick Daddario sold 7,278 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,011,059.76. Following the transaction, the chief accounting officer now owns 18,388 shares in the company, valued at $2,554,460.96. The disclosure for this sale can be found here. Insiders have sold 41,571 shares of company stock worth $5,687,391 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On GoDaddy

Several institutional investors have recently modified their holdings of GDDY. V Square Quantitative Management LLC acquired a new position in shares of GoDaddy during the fourth quarter worth $28,000. GAMMA Investing LLC grew its stake in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in shares of GoDaddy during the fourth quarter worth $33,000. Massmutual Trust Co. FSB ADV grew its stake in shares of GoDaddy by 140.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after purchasing an additional 205 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in shares of GoDaddy during the first quarter worth $45,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Robert W. Baird lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, May 24th. Piper Sandler lifted their price target on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Citigroup lifted their price target on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Royal Bank of Canada lifted their price target on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.92.

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.