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

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the second quarter, HoldingsChannel reports. The institutional investor acquired 340,934 shares of the technology company’s stock, valued at approximately $28,938,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in GoDaddy during the 4th quarter worth approximately $250,020,000. AQR Capital Management LLC boosted its position in shares of GoDaddy by 117.5% in the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after purchasing an additional 1,615,005 shares during the period. Two Sigma Investments LP boosted its position in shares of GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after purchasing an additional 814,360 shares during the period. Swedbank AB increased its stake in shares of GoDaddy by 433.9% in the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after purchasing an additional 524,811 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of GoDaddy by 67.0% during the 4th 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 during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $94.65 on Monday. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $11.99 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.85 and a beta of 0.90. The firm’s fifty day moving average is $87.57 and its two-hundred day moving average is $87.66. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $150.47.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 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 for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that GoDaddy Inc. will post 7.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GDDY. Cantor Fitzgerald restated a “neutral” rating and set a $90.00 target price on shares of GoDaddy in a research note on Friday, July 31st. Weiss Ratings raised GoDaddy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Raymond James Financial downgraded GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 price objective on the stock. in a research report on Friday, July 31st. Citigroup lowered their price objective on GoDaddy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Finally, Piper Sandler reiterated a “neutral” rating and set a $95.00 target price (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.33.

Insider Transactions at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares in the company, valued at $501,390.72. This trade represents a 5.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $83.15, for a total value of $374,175.00. Following the completion of the sale, the chief executive officer directly owned 517,247 shares in the company, valued at approximately $43,009,088.05. The trade was a 0.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,484 shares of company stock valued at $2,059,489 over the last three months. Corporate insiders own 0.93% of the company’s stock.

Key GoDaddy News

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

About GoDaddy

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.