GoDaddy Inc. (NYSE:GDDY) Position Lowered by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 15.3% in the 4th quarter, Holdings Channel reports. The firm owned 196,385 shares of the technology company’s stock after selling 35,402 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in GoDaddy were worth $38,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of GDDY. Ashton Thomas Securities LLC bought a new stake in GoDaddy in the third quarter valued at $27,000. Apollon Wealth Management LLC lifted its stake in shares of GoDaddy by 20.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,653 shares of the technology company’s stock worth $416,000 after acquiring an additional 446 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of GoDaddy in the third quarter valued at approximately $273,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in GoDaddy by 4.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 373,257 shares of the technology company’s stock worth $58,519,000 after purchasing an additional 17,573 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its position in GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GDDY has been the topic of several recent research reports. Raymond James lifted their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. JPMorgan Chase & Co. increased their target price on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Robert W. Baird raised their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at $38,283,445.20. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares in the company, valued at $3,996,379.86. The trade was a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,480 shares of company stock valued at $3,849,169. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $171.92 on Friday. GoDaddy Inc. has a 12-month low of $115.19 and a 12-month high of $216.00. The firm has a market capitalization of $24.30 billion, a P/E ratio of 26.65 and a beta of 1.25. The stock’s 50 day moving average price is $193.46 and its two-hundred day moving average price is $182.39. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

About GoDaddy

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.