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

GoDaddy Inc. (NYSE:GDDY) was the target of a significant 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 days-to-cover ratio is currently 2.0 days.

Insider Activity at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the completion of the transaction, the director now directly owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Nick Daddario sold 7,278 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $138.92, for a total value of $1,011,059.76. Following the transaction, the chief accounting officer now directly owns 18,388 shares of the company’s stock, 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 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GoDaddy

A number of institutional investors have recently added to or reduced their stakes in the stock. Fiera Capital Corp boosted its stake in GoDaddy by 1.3% during the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after acquiring an additional 10,312 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in GoDaddy during the fourth quarter worth about $4,204,000. International Assets Investment Management LLC purchased a new stake in GoDaddy during the fourth quarter worth about $1,972,000. SG Americas Securities LLC increased its stake in shares of GoDaddy by 644.6% in the fourth quarter. SG Americas Securities LLC now owns 149,643 shares of the technology company’s stock worth $15,886,000 after purchasing an additional 129,547 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its stake in shares of GoDaddy by 41.7% in the fourth quarter. Horrell Capital Management Inc. now owns 68,000 shares of the technology company’s stock worth $7,219,000 after purchasing an additional 20,000 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GoDaddy stock traded up $1.46 during trading on Tuesday, hitting $142.96. 1,737,393 shares of the stock were exchanged, compared to its average volume of 1,697,364. The stock has a market capitalization of $20.40 billion, a price-to-earnings ratio of 11.87 and a beta of 1.14. The company has a fifty day moving average price of $135.52 and a 200-day moving average price of $120.88. GoDaddy has a 1-year low of $69.18 and a 1-year high of $143.37. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The firm 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, equities analysts predict that GoDaddy will post 4.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the subject of several research reports. B. Riley raised their price objective on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. William Blair reissued an “outperform” rating on shares of GoDaddy in a research note on Friday, May 3rd. Citigroup raised their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Barclays lifted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley lifted their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Four equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.92.

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.