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

Russell Investments Group Ltd. lowered its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,855 shares of the technology company’s stock after selling 43,944 shares during the quarter. Russell Investments Group Ltd. owned 0.17% of GoDaddy worth $46,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in GoDaddy by 31.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 616,486 shares of the technology company’s stock worth $121,676,000 after acquiring an additional 147,511 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of GoDaddy in the 4th quarter valued at approximately $1,202,000. Katamaran Capital LLP purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $1,458,000. Aviva PLC increased its position in shares of GoDaddy by 917.6% during the 4th quarter. Aviva PLC now owns 87,049 shares of the technology company’s stock valued at $17,181,000 after purchasing an additional 78,495 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $1,091,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GDDY opened at $164.34 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The business’s fifty day simple moving average is $186.96 and its 200-day simple moving average is $185.26. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 25.48 and a beta of 1.25. GoDaddy Inc. has a 12-month low of $119.76 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last posted its 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 net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on GDDY shares. Morgan Stanley lifted their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup increased their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company assumed coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. Finally, Piper Sandler increased their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the sale, the director now owns 22,621 shares of the company’s stock, valued at $4,698,381.70. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,546,970. 0.61% of the stock is currently owned by corporate insiders.

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.