Investors Purchase Large Volume of GoDaddy Put Options (GDDY)

GoDaddy Inc. (NYSE:GDDY) saw unusually large options trading activity on Tuesday. Stock traders acquired 1,736 put options on the stock. This is an increase of approximately Infinity compared to the average volume of 0 put options.

Shares of GoDaddy (NYSE:GDDY) opened at $48.15 on Friday. The firm has a market cap of $7,934.78, a P/E ratio of 155.32, a P/E/G ratio of 8.46 and a beta of 0.64. GoDaddy has a 1-year low of $32.00 and a 1-year high of $49.36. The company has a quick ratio of 0.69, a current ratio of 0.57 and a debt-to-equity ratio of 5.15.

GDDY has been the subject of a number of research analyst reports. Jefferies Group LLC upped their price objective on shares of GoDaddy from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. B. Riley restated a “buy” rating and set a $53.00 price objective on shares of GoDaddy in a research report on Wednesday, August 9th. Raymond James Financial, Inc. upped their price objective on shares of GoDaddy from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada upped their price objective on shares of GoDaddy from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, BidaskClub raised shares of GoDaddy from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $48.62.

In related news, EVP Nima Kelly sold 8,112 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $48.01, for a total value of $389,457.12. Following the completion of the transaction, the executive vice president now directly owns 37,046 shares in the company, valued at approximately $1,778,578.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Blake Irving sold 37,500 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $43.64, for a total transaction of $1,636,500.00. Following the completion of the transaction, the chief executive officer now owns 40,606 shares of the company’s stock, valued at $1,772,045.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,268,964 shares of company stock worth $536,522,144. 22.68% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of GDDY. UBS Asset Management Americas Inc. raised its holdings in GoDaddy by 16.1% in the first quarter. UBS Asset Management Americas Inc. now owns 31,770 shares of the technology company’s stock valued at $1,204,000 after acquiring an additional 4,403 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in GoDaddy by 326.7% during the first quarter. Parametric Portfolio Associates LLC now owns 61,764 shares of the technology company’s stock worth $2,341,000 after purchasing an additional 47,290 shares in the last quarter. Teachers Advisors LLC raised its holdings in GoDaddy by 55.8% during the first quarter. Teachers Advisors LLC now owns 96,501 shares of the technology company’s stock worth $3,657,000 after purchasing an additional 34,575 shares in the last quarter. Legal & General Group Plc raised its holdings in GoDaddy by 229.7% during the first quarter. Legal & General Group Plc now owns 17,073 shares of the technology company’s stock worth $647,000 after purchasing an additional 11,894 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in GoDaddy by 6.8% during the first quarter. Vanguard Group Inc. now owns 5,955,674 shares of the technology company’s stock worth $225,720,000 after purchasing an additional 380,343 shares in the last quarter. 78.82% of the stock is currently owned by hedge funds and other institutional investors.

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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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