GoDaddy Inc. (NYSE:GDDY – Get Free Report) was the target of some unusual options trading on Monday. Investors bought 10,468 call options on the stock. This represents an increase of 379% compared to the average volume of 2,187 call options.
Insiders Place Their Bets
In other news, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total value of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 2,261 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $91.81, for a total value of $207,582.41. Following the sale, the chief accounting officer owned 17,734 shares of the company’s stock, valued at $1,628,158.54. This represents a 11.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,484 shares of company stock valued at $2,059,489 over the last three months. Insiders own 0.93% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its position in GoDaddy by 6,098.5% during the second quarter. California State Teachers Retirement System now owns 13,062,353 shares of the technology company’s stock valued at $1,108,733,000 after purchasing an additional 12,851,619 shares during the period. Norges Bank purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $250,020,000. AQR Capital Management LLC boosted its holdings in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after purchasing an additional 1,615,005 shares during the period. Two Sigma Investments LP boosted its holdings in shares of GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after purchasing an additional 814,360 shares during the period. Finally, Swedbank AB increased its position in shares of GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after purchasing an additional 524,811 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.
GoDaddy Price Performance
GoDaddy (NYSE:GDDY – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.14. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the business posted $1.41 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that GoDaddy will post 7.21 EPS for the current year.
Analyst Upgrades and Downgrades
GDDY has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of GoDaddy from $110.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Benchmark lowered their target price on shares of GoDaddy from $185.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Raymond James Financial lowered shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 target price for the company. in a research report on Friday, July 31st. Wedbush cut their target price on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a research note on Monday, August 3rd. Finally, UBS Group began coverage on shares of GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $110.33.
Check Out Our Latest Research Report on GoDaddy
GoDaddy Company Profile
GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.
Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.
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