GoDaddy Inc. (NYSE:GDDY) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 15.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,855 shares of the technology company’s stock after selling 43,944 shares during the period. Russell Investments Group Ltd.’s holdings in GoDaddy were worth $46,563,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Royal London Asset Management Ltd. raised its stake in GoDaddy by 4.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 58,067 shares of the technology company’s stock worth $9,104,000 after acquiring an additional 2,270 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of GoDaddy by 19.6% in the third quarter. Quantinno Capital Management LP now owns 13,803 shares of the technology company’s stock worth $2,164,000 after purchasing an additional 2,260 shares during the last quarter. State Street Corp raised its stake in shares of GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares during the last quarter. iA Global Asset Management Inc. boosted its position in GoDaddy by 298.9% in the third quarter. iA Global Asset Management Inc. now owns 9,666 shares of the technology company’s stock valued at $1,515,000 after buying an additional 7,243 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in GoDaddy by 257.2% in the 3rd quarter. National Bank of Canada FI now owns 140,129 shares of the technology company’s stock worth $21,969,000 after buying an additional 100,900 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GoDaddy stock opened at $164.34 on Monday. The stock has a market capitalization of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25. The company’s fifty day moving average price is $186.96 and its 200 day moving average price is $185.26. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the subject of several research reports. Wells Fargo & Company began coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Piper Sandler upped their target price on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, UBS Group lifted their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the completion of the sale, the chief financial officer now owns 115,375 shares of the company’s stock, valued at $20,750,193.75. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the transaction, the chief operating officer now directly owns 257,949 shares in the company, valued at approximately $44,937,295.29. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock worth $3,546,970. Corporate insiders own 0.61% of the company’s stock.

About GoDaddy

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.