Diamond Hill Capital Management Inc. Acquires 34,138 Shares of GoDaddy Inc. $GDDY

Diamond Hill Capital Management Inc. grew its stake in GoDaddy Inc. (NYSE:GDDY) by 22.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 184,094 shares of the technology company’s stock after purchasing an additional 34,138 shares during the period. Diamond Hill Capital Management Inc.’s holdings in GoDaddy were worth $25,190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hemington Wealth Management boosted its stake in shares of GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the period. Penserra Capital Management LLC lifted its stake in GoDaddy by 14.0% in the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after purchasing an additional 92 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after buying an additional 94 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of GoDaddy by 5.6% during the second quarter. Coldstream Capital Management Inc. now owns 1,801 shares of the technology company’s stock valued at $324,000 after buying an additional 96 shares during the last quarter. Finally, MAI Capital Management grew its stake in shares of GoDaddy by 9.7% during the second quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock valued at $203,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY stock opened at $97.38 on Friday. GoDaddy Inc. has a fifty-two week low of $92.22 and a fifty-two week high of $214.32. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.88 and a beta of 0.94. The stock’s 50-day simple moving average is $116.06 and its 200-day simple moving average is $131.74.

Insider Transactions at GoDaddy

In other 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 transaction of $307,870.68. Following the sale, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 3,317 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the transaction, the chief financial officer owned 66,816 shares of the company’s stock, valued at $8,548,439.04. This trade represents a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,615 shares of company stock worth $1,743,102. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $70.00 target price on shares of GoDaddy in a research note on Wednesday, January 7th. Citigroup reduced their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group lowered their target price on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a report on Monday, January 5th. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Finally, Cantor Fitzgerald dropped their target price on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.