Godaddy Inc (NYSE:GDDY) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 7,000,000 shares, a growth of 14.8% from the September 30th total of 6,100,000 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,690,000 shares, the short-interest ratio is presently 4.1 days.
Several research analysts recently commented on GDDY shares. SunTrust Banks restated a “buy” rating and issued a $90.00 price target on shares of Godaddy in a report on Friday, November 1st. Wedbush restated a “neutral” rating on shares of Godaddy in a report on Monday, November 4th. Barclays raised their price target on shares of Godaddy from $89.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Piper Jaffray Companies cut their price target on shares of Godaddy from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, ValuEngine lowered shares of Godaddy from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $88.63.
Shares of GDDY traded up $0.39 during mid-day trading on Friday, reaching $68.10. 2,106,084 shares of the stock traded hands, compared to its average volume of 1,748,935. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 108.10, a P/E/G ratio of 6.15 and a beta of 0.68. The stock has a fifty day simple moving average of $64.75 and a 200 day simple moving average of $69.22. Godaddy has a 12-month low of $56.67 and a 12-month high of $82.30. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 3.78.
Godaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.20. The company had revenue of $760.50 million for the quarter, compared to analyst estimates of $761.04 million. Godaddy had a net margin of 4.10% and a return on equity of 19.05%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities research analysts expect that Godaddy will post 0.79 earnings per share for the current fiscal year.
In related news, insider Nima Kelly sold 5,852 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $68.79, for a total value of $402,559.08. Following the transaction, the insider now owns 128,605 shares in the company, valued at $8,846,737.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Sharples sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.26, for a total transaction of $52,921.00. Following the completion of the transaction, the director now owns 11,798 shares in the company, valued at approximately $734,543.48. The disclosure for this sale can be found here. Insiders sold 24,774 shares of company stock worth $1,704,381 in the last 90 days. 12.64% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. M&T Bank Corp grew its position in shares of Godaddy by 98.7% during the second quarter. M&T Bank Corp now owns 9,619 shares of the technology company’s stock worth $675,000 after buying an additional 4,777 shares in the last quarter. First Hawaiian Bank grew its position in shares of Godaddy by 2.0% during the third quarter. First Hawaiian Bank now owns 9,280 shares of the technology company’s stock worth $612,000 after buying an additional 180 shares in the last quarter. Jefferies Group LLC acquired a new stake in shares of Godaddy during the second quarter worth approximately $1,814,000. Royal Bank of Canada grew its position in shares of Godaddy by 9.2% during the second quarter. Royal Bank of Canada now owns 178,149 shares of the technology company’s stock worth $12,498,000 after buying an additional 14,941 shares in the last quarter. Finally, Strs Ohio grew its position in shares of Godaddy by 157.1% during the second quarter. Strs Ohio now owns 16,287 shares of the technology company’s stock worth $1,142,000 after buying an additional 9,953 shares in the last quarter. Institutional investors own 96.82% of the company’s stock.
Godaddy Company Profile
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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