Russell Investments Group Ltd. Grows Position in GoDaddy Inc. $GDDY

Russell Investments Group Ltd. raised its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 28.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,156 shares of the technology company’s stock after acquiring an additional 81,200 shares during the period. Russell Investments Group Ltd. owned about 0.27% of GoDaddy worth $50,077,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GDDY. Hemington Wealth Management raised its holdings in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Root Financial Partners LLC purchased a new position in GoDaddy during the third quarter worth about $31,000. Rossby Financial LCC boosted its holdings in GoDaddy by 125.4% during the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Bayforest Capital Ltd grew its position in GoDaddy by 141.5% in the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after purchasing an additional 208 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in GoDaddy in the 3rd quarter worth about $61,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Trading Down 4.0%

Shares of GDDY stock opened at $86.57 on Thursday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.82 and a beta of 0.96. The company’s fifty day simple moving average is $99.07 and its two-hundred day simple moving average is $121.73. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $193.55. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company earned $1.36 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays dropped their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Royal Bank Of Canada reduced their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Benchmark decreased their price target on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, UBS Group cut their price objective on GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.93.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 34,148 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $3,038,830.52. Following the sale, the chief executive officer directly owned 530,120 shares of the company’s stock, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leah Sweet sold 650 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the completion of the sale, the director directly owned 11,414 shares in the company, valued at approximately $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,918 shares of company stock worth $5,500,469 in the last 90 days. 0.70% of the stock is owned by company insiders.

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.