Diamond Hill Capital Management LLC Investment Advisor Takes $28.94 Million Position in GoDaddy Inc. $GDDY

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 340,934 shares of the technology company’s stock, valued at approximately $28,938,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.26% of GoDaddy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GDDY. Norges Bank bought a new stake in GoDaddy during the 4th quarter valued at approximately $250,020,000. AQR Capital Management LLC raised its position in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after acquiring an additional 1,615,005 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after purchasing an additional 814,360 shares during the period. Swedbank AB boosted its position in shares of GoDaddy by 433.9% during the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after purchasing an additional 524,811 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of GoDaddy by 67.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock valued at $155,968,000 after purchasing an additional 504,374 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GDDY shares. B. Riley Financial decreased their price objective on GoDaddy from $190.00 to $170.00 and set a “buy” rating for the company in a report on Friday, July 31st. Raymond James Financial cut shares of GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 target price on the stock. in a report on Friday, July 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $95.00 target price (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of GoDaddy to a “buy” rating in a research note on Friday, July 31st. Finally, Wedbush lowered their price target on shares of GoDaddy from $109.00 to $93.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.33.

GoDaddy Stock Down 0.3%

Shares of NYSE:GDDY opened at $94.65 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 561.10. The stock has a fifty day simple moving average of $87.57 and a two-hundred day simple moving average of $87.66. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $150.47. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.85 and a beta of 0.90.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts anticipate that GoDaddy Inc. will post 7.21 earnings per share for the current fiscal year.

GoDaddy News Roundup

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: GoDaddy CFO comments highlighted growth opportunities for the Airo product, higher average revenue per user and the company’s positioning as consumers increasingly use AI to discover businesses online. The discussion may support the investment case for expanding revenue beyond traditional domain registration. Exclusive: GoDaddy CFO on Airo, ARPU growth and the shift to AI discovery

Insiders Place Their Bets

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the sale, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $83.15, for a total value of $374,175.00. Following the sale, the chief executive officer owned 517,247 shares of the company’s stock, valued at approximately $43,009,088.05. This trade represents a 0.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 23,484 shares of company stock valued at $2,059,489. 0.93% of the stock is currently owned by corporate insiders.

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.