GoDaddy Inc. (NYSE: GDDY – Get a rating) benefited from a significant drop in short-term interest rates in April. As of April 15, there was short interest totaling 3,270,000 shares, down 43.0% from the March 31 total of 5,740,000 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily trading volume of 1,750,000 shares, the short interest ratio is currently 1.9 days.
In related news, CAD Nick Daddario sold 1,400 shares in a trade that took place on Tuesday, February 15. The shares were sold at an average price of $82.47, for a total transaction of $115,458.00. The sale was disclosed in an SEC filing, available at the SEC website. Also, CEO Amanpal Singh Bhutan sold 9,254 shares in a trade that took place on Wednesday, February 23. The shares were sold at an average price of $80.68, for a total transaction of $746,612.72. Disclosure of this sale can be found here. During the last quarter, insiders sold 18,949 shares of the company worth $1,550,449. Insiders own 0.38% of the shares of the company.
A number of institutional investors and hedge funds have been buying and selling stocks recently. CAPROCK Group Inc. increased its stake in GoDaddy by 4.9% during the first quarter. CAPROCK Group Inc. now owns 3,686 shares of the technology company valued at $309,000 after acquiring 172 additional shares last quarter. Wetherby Asset Management Inc. increased its position in GoDaddy by 3.3% during the fourth quarter. Wetherby Asset Management Inc. now owns 6,232 shares of the technology company valued at $529,000 after buying 202 more shares in the last quarter. Tobam increased its position in GoDaddy by 31.7% during the first quarter. Tobam now owns 872 shares of the tech company valued at $73,000 after buying an additional 210 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in GoDaddy by 5.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 3,999 shares of the technology company valued at $335,000 after buying 221 additional shares in the last quarter. Finally, AGF Investments Inc. increased its position in GoDaddy by 4.7% during the third quarter. AGF Investments Inc. now owns 5,696 shares of the technology company valued at $397,000 after buying 256 additional shares in the last quarter.
Shares of NYSE GDDY traded at $6.52 in Friday’s midday session, rising to $80.81. The stock recorded a trading volume of 2,753,702 shares, compared to an average volume of 1,407,381 shares. The stock has a 50-day moving average of $82.82 and a 200-day moving average of $77.03. The company has a debt ratio of 46.37, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 56.51, a growth price-to-earnings ratio of 2.59 and a beta of 1.00. GoDaddy has a 12-month minimum of $65.70 and a 12-month maximum of $90.43.
Come on dad (NYSE: GDDY – Get a rating) last reported quarterly earnings data on Thursday, February 10. The technology company reported earnings per share (EPS) of $0.52 for the quarter, beating the Zacks consensus estimate of $0.41 by $0.11. The company posted revenue of $1.02 billion in the quarter, compared to $973.09 million expected by analysts. GoDaddy had a net margin of 6.35% and a negative return on equity of 805.65%. The company’s revenue for the quarter increased by 16.6% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.41. As a group, analysts expect GoDaddy to post EPS of 2.19 for the current fiscal year.
A number of brokerages have weighed in on GDDY recently. Piper Sandler moved GoDaddy shares from a “neutral” to an “overweight” rating and raised her price target for the company from $94.00 to $110.00 in a Monday 25 research report. april. Raymond James raised his price target on GoDaddy shares from $100.00 to $107.00 and gave the company a “Strong Buy” rating in a Friday, Feb. 11 research report. Benchmark began covering GoDaddy shares in a research report on Wednesday, April 13. They set a “buy” rating and a price target of $102.00 on the stock. Morgan Stanley raised its price target on GoDaddy shares from $81.00 to $95.00 and gave the company an “equal weight” rating in a Monday, Feb. 14 research report. To finish, StockNews.com began covering GoDaddy shares in a report on Thursday, March 31. They set a “buy” rating for the company. Three equity research analysts gave the stock a hold rating, seven issued a buy rating and one gave the company’s stock a high buy rating. According to MarketBeat, the stock currently has a consensus buy rating and a consensus target price of $100.00.
About GoDaddy (Get a rating)
GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The Company provides a domain name registration product that engages customers in the initial stage of establishing a digital identity. It also offers shared website hosting products that provide various applications and products, such as web analytics, Secure Sockets Layer and WordPress certificates; Hosting websites on virtual private servers and dedicated virtual server products, which allow customers to select the right server configuration for their applications, needs and growth; managed hosting products to configure, monitor, maintain, secure and patch software and servers for customers; and security products, a suite of tools designed to help secure customers’ online presence.
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