Russell Investments Group Ltd. Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Russell Investments Group Ltd. lessened its position in shares of GoDaddy Inc. (NYSE:GDDY) by 6.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 441,977 shares of the technology company’s stock after selling 32,702 shares during the quarter. Russell Investments Group Ltd.’s holdings in GoDaddy were worth $46,922,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its position in GoDaddy by 16.3% in the 3rd quarter. CWM LLC now owns 1,538 shares of the technology company’s stock valued at $115,000 after buying an additional 216 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in GoDaddy by 17.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,774 shares of the technology company’s stock valued at $4,452,000 after purchasing an additional 9,000 shares during the period. Xponance Inc. grew its stake in GoDaddy by 79.8% during the 3rd quarter. Xponance Inc. now owns 27,804 shares of the technology company’s stock worth $2,071,000 after purchasing an additional 12,343 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares during the period. Finally, Diversified Investment Strategies LLC increased its holdings in GoDaddy by 4.7% during the 3rd quarter. Diversified Investment Strategies LLC now owns 104,695 shares of the technology company’s stock worth $7,798,000 after purchasing an additional 4,690 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 8,687 shares of GoDaddy stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $991,273.57. Following the sale, the chief executive officer now owns 454,031 shares of the company’s stock, valued at $51,809,477.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at $14,055,912.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 8,687 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $114.11, for a total transaction of $991,273.57. Following the completion of the transaction, the chief executive officer now directly owns 454,031 shares of the company’s stock, valued at $51,809,477.41. The disclosure for this sale can be found here. Insiders sold a total of 121,234 shares of company stock valued at $13,534,946 over the last three months. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $124.00 price objective on shares of GoDaddy in a research report on Thursday, March 7th. B. Riley boosted their price target on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Raymond James initiated coverage on shares of GoDaddy in a report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective on the stock. Evercore ISI downgraded shares of GoDaddy from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $100.00 to $110.00 in a research note on Wednesday, February 14th. Finally, StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.18.

GoDaddy Price Performance

Shares of GDDY opened at $125.12 on Tuesday. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. GoDaddy Inc. has a fifty-two week low of $67.43 and a fifty-two week high of $127.15. The firm has a 50-day simple moving average of $119.06 and a 200-day simple moving average of $105.53. The company has a market capitalization of $17.83 billion, a price-to-earnings ratio of 13.06 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.76 earnings per share for the current year.

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.