Diamond Hill Capital Management Inc. Lowers Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Diamond Hill Capital Management Inc. decreased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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. owned 0.14% of GoDaddy worth $38,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. WCM Investment Management LLC increased its holdings in shares of GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of GoDaddy during the fourth quarter worth about $111,923,000. Amundi grew its holdings in shares of GoDaddy by 84.4% during the fourth quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after buying an additional 426,501 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock worth $56,709,000 after buying an additional 350,839 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock worth $70,750,000 after buying an additional 349,358 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

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Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now owns 84,300 shares of the company's stock, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $99,505.00. Following the sale, the director now owns 23,121 shares in the company, valued at $4,601,310.21. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,480 shares of company stock valued at $3,641,819. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

Shares of GoDaddy stock traded down $1.94 during trading hours on Tuesday, reaching $178.18. The company had a trading volume of 1,254,163 shares, compared to its average volume of 1,336,127. GoDaddy Inc. has a one year low of $117.33 and a one year high of $216.00. The business has a fifty day simple moving average of $192.60 and a 200 day simple moving average of $182.83. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm has a market cap of $25.19 billion, a PE ratio of 27.63 and a beta of 1.25.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. On average, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of several recent research reports. Citigroup increased their price target on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Jefferies Financial Group increased their price target on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Robert W. Baird raised their price objective on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Benchmark raised their price objective on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, Morgan Stanley raised their price objective on GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Seven investment 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 stock. According to MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and an average price target of $213.20.

GoDaddy Profile

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.