Short Interest in GoDaddy Inc. (NYSE:GDDY) Increases By 19.7%

Key Points

• Short interest in GoDaddy Inc. increased by 19.7% in August, climbing to 6,390,000 shares, which represents approximately 4.7% of the company's total shares.
• Several research analysts have lowered their price targets for GoDaddy, with Barclays setting a new target of $200.00, while the consensus price target is now $202.43.
• Insiders sold 34,828 shares of GoDaddy stock worth around $5.4 million in the past three months, and institutional investors now hold 90.28% of the company’s stock.

GoDaddy Inc. (NYSE:GDDY - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 6,390,000 shares, a growth of 19.7% from the August 15th total of 5,340,000 shares. Based on an average daily trading volume, of 1,720,000 shares, the short-interest ratio is currently 3.7 days. Currently, 4.7% of the shares of the company are short sold. Currently, 4.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,720,000 shares, the short-interest ratio is currently 3.7 days.

Analyst Ratings Changes

GDDY has been the subject of a number of research reports. Citigroup cut their target price on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Barclays cut their target price on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Royal Bank Of Canada lowered their price target on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Piper Sandler set a $182.00 price target on shares of GoDaddy and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company lowered their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $202.43.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,950 shares of GoDaddy stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $988,359.50. Following the completion of the transaction, the chief executive officer owned 412,065 shares of the company's stock, valued at approximately $58,599,763.65. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 3,326 shares of GoDaddy stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $472,990.46. Following the completion of the transaction, the chief financial officer directly owned 70,133 shares of the company's stock, valued at $9,973,613.93. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,828 shares of company stock valued at $5,394,638 in the last ninety days. Company insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On GoDaddy

Several large investors have recently made changes to their positions in GDDY. Cornerstone Planning Group LLC lifted its holdings in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of GoDaddy in the 2nd quarter worth approximately $26,000. Park Square Financial Group LLC acquired a new position in shares of GoDaddy in the 1st quarter worth approximately $27,000. NewSquare Capital LLC increased its stake in GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company's stock worth $27,000 after buying an additional 94 shares during the period. Finally, Private Trust Co. NA increased its stake in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after buying an additional 136 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 1.8%

NYSE:GDDY traded down $2.62 on Tuesday, hitting $145.21. The stock had a trading volume of 78,300 shares, compared to its average volume of 1,582,335. The company has a fifty day moving average price of $151.61 and a two-hundred day moving average price of $169.10. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy has a 1-year low of $132.51 and a 1-year high of $216.00. The stock has a market cap of $20.10 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.56 and a beta of 1.02.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business posted $1.01 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that GoDaddy will post 6.63 earnings per share for the current fiscal year.

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.