Russell Investments Group Ltd. Purchases 81,200 Shares of GoDaddy Inc. $GDDY

Russell Investments Group Ltd. grew its position in shares of GoDaddy Inc. (NYSE:GDDY) by 28.6% in the third quarter, Holdings Channel reports. The firm owned 365,156 shares of the technology company’s stock after purchasing an additional 81,200 shares during the period. Russell Investments Group Ltd.’s holdings in GoDaddy were worth $50,077,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Schroder Investment Management Group grew its position in GoDaddy by 0.6% during the third quarter. Schroder Investment Management Group now owns 117,217 shares of the technology company’s stock worth $16,039,000 after buying an additional 739 shares in the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of GoDaddy by 14.3% in the 3rd quarter. Jefferies Financial Group Inc. now owns 5,373 shares of the technology company’s stock valued at $735,000 after acquiring an additional 671 shares in the last quarter. Rathbones Group PLC boosted its position in shares of GoDaddy by 16.2% during the 3rd quarter. Rathbones Group PLC now owns 55,440 shares of the technology company’s stock valued at $7,586,000 after acquiring an additional 7,724 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of GoDaddy by 77.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 15,466 shares of the technology company’s stock valued at $2,116,000 after acquiring an additional 6,756 shares during the last quarter. Finally, Vinva Investment Management Ltd grew its holdings in shares of GoDaddy by 45.4% during the third quarter. Vinva Investment Management Ltd now owns 230,073 shares of the technology company’s stock worth $33,029,000 after purchasing an additional 71,838 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GDDY shares. Barclays decreased their price objective 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 dropped their target price on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Morgan Stanley cut their price target on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Evercore set a $95.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. Finally, UBS Group lowered their price objective on shares of GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.93.

Insider Activity

In other news, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the completion of the sale, the chief accounting officer directly owned 20,349 shares in the company, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leah Sweet sold 650 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $86.86, for a total value of $56,459.00. Following the completion of the sale, the director directly owned 11,414 shares in the company, valued at $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. In the last three months, insiders sold 61,918 shares of company stock valued at $5,500,469. 0.70% of the stock is currently owned by insiders.

GoDaddy Stock Down 4.0%

Shares of NYSE GDDY opened at $86.57 on Thursday. The firm’s fifty day moving average is $99.07 and its 200 day moving average is $121.73. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $193.55. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.82 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 EPS. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Profile

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.