Stock Traders Purchase High Volume of Put Options on Godaddy (GDDY)

Godaddy Inc (NYSE:GDDY) was the recipient of unusually large options trading activity on Monday. Stock investors bought 2,436 put options on the company. This represents an increase of approximately 1,432% compared to the average volume of 159 put options.

A number of brokerages have recently issued reports on GDDY. Zacks Investment Research upgraded shares of Godaddy from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays upped their target price on shares of Godaddy from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Morgan Stanley upped their target price on shares of Godaddy from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. B. Riley restated a “buy” rating and issued a $53.00 target price on shares of Godaddy in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. lowered shares of Godaddy from an “overweight” rating to a “neutral” rating and set a $54.00 target price on the stock. in a research note on Tuesday, December 12th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $51.80.

Shares of Godaddy (GDDY) opened at $53.77 on Thursday. The company has a debt-to-equity ratio of 5.15, a quick ratio of 0.57 and a current ratio of 0.57. Godaddy has a 1 year low of $34.58 and a 1 year high of $56.20. The firm has a market cap of $8,736.93, a PE ratio of 206.82, a P/E/G ratio of 5.49 and a beta of 0.72.

Godaddy (NYSE:GDDY) last announced its quarterly earnings data on Monday, November 6th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. Godaddy had a net margin of 2.34% and a return on equity of 7.89%. research analysts expect that Godaddy will post 0.27 earnings per share for the current year.

In other news, insider Barbara J. Rechterman sold 35,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $54.58, for a total value of $1,910,300.00. Following the sale, the insider now owns 46,113 shares in the company, valued at approximately $2,516,847.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Blake Irving sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $48.53, for a total transaction of $2,426,500.00. Following the completion of the sale, the chief executive officer now owns 53,106 shares in the company, valued at approximately $2,577,234.18. The disclosure for this sale can be found here. Insiders sold a total of 7,793,121 shares of company stock worth $368,837,243 in the last quarter. 22.68% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in shares of Godaddy by 48.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 362,619 shares of the technology company’s stock valued at $15,777,000 after buying an additional 118,109 shares during the last quarter. Rhumbline Advisers grew its position in shares of Godaddy by 33.7% during the 3rd quarter. Rhumbline Advisers now owns 114,233 shares of the technology company’s stock valued at $4,970,000 after buying an additional 28,774 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Godaddy by 26.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,553,811 shares of the technology company’s stock valued at $320,434,000 after buying an additional 1,598,137 shares during the last quarter. Capital International Investors grew its position in shares of Godaddy by 628.1% during the 3rd quarter. Capital International Investors now owns 3,715,574 shares of the technology company’s stock valued at $161,665,000 after buying an additional 3,205,274 shares during the last quarter. Finally, Ardsley Advisory Partners bought a new position in Godaddy in the 2nd quarter worth about $5,090,000. 84.66% of the stock is owned by institutional investors and hedge funds.

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About Godaddy

GoDaddy Inc is a technology provider to small businesses, Web design professionals and individuals. The Company delivers cloud-based products and personalized customer care. It operates a domain marketplace, where its customers can find the digital real estate that matches their idea. It provides Website building, hosting and security tools to help customers construct and protect online presence.

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