Diamond Hill Capital Management Inc. Boosts Stake in GoDaddy Inc. $GDDY

Diamond Hill Capital Management Inc. lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 22.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,094 shares of the technology company’s stock after buying an additional 34,138 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.13% of GoDaddy worth $25,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GDDY. Norges Bank purchased a new position in shares of GoDaddy during the second quarter valued at approximately $341,588,000. Qube Research & Technologies Ltd lifted its holdings in shares of GoDaddy by 2,289.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock valued at $157,305,000 after buying an additional 837,065 shares during the period. Vanguard Group Inc. boosted its stake in shares of GoDaddy by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock worth $3,378,310,000 after buying an additional 627,923 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of GoDaddy in the second quarter worth $81,153,000. Finally, JPMorgan Chase & Co. increased its position in GoDaddy by 16.5% during the second quarter. JPMorgan Chase & Co. now owns 2,843,056 shares of the technology company’s stock valued at $511,921,000 after acquiring an additional 403,151 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. The trade was a 12.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $886,880.08. Following the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 13,615 shares of company stock valued at $1,743,102. Corporate insiders own 0.70% of the company’s stock.

GoDaddy Stock Up 1.3%

NYSE GDDY opened at $97.38 on Friday. GoDaddy Inc. has a 12 month low of $92.22 and a 12 month high of $214.32. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The stock has a market cap of $13.16 billion, a PE ratio of 16.82, a P/E/G ratio of 0.88 and a beta of 0.94. The stock’s 50 day moving average is $116.06 and its 200 day moving average is $131.74.

Analyst Ratings Changes

Several research analysts have issued reports on GDDY shares. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Morgan Stanley reduced their target price on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. JPMorgan Chase & Co. cut their price objective on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. B. Riley Financial lowered their target price on GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Citigroup decreased their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.21.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.