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

Key Points

• Russell Investments Group Ltd. increased its stake in GoDaddy by 21.8% during the first quarter, acquiring 51,317 additional shares to own approximately 287,172 shares valued at $51.7 million.
• Multiple institutional investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have recently raised their holdings in GoDaddy, with institutional ownership now at 90.28% of the stock.
• GoDaddy reported a quarterly earnings of $1.41 per share, exceeding analysts' expectations, and experienced an 8.3% year-over-year increase in revenue, reaching $1.22 billion.

Russell Investments Group Ltd. raised its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 21.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,172 shares of the technology company's stock after purchasing an additional 51,317 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of GoDaddy worth $51,724,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sagespring Wealth Partners LLC purchased a new stake in GoDaddy in the fourth quarter worth about $411,000. Canada Post Corp Registered Pension Plan bought a new position in shares of GoDaddy in the 4th quarter worth about $539,000. Jump Financial LLC purchased a new stake in GoDaddy during the 4th quarter valued at about $238,000. United Capital Financial Advisors LLC purchased a new stake in GoDaddy during the 4th quarter valued at about $245,000. Finally, NewEdge Advisors LLC grew its position in GoDaddy by 5.6% during the 4th quarter. NewEdge Advisors LLC now owns 4,179 shares of the technology company's stock valued at $825,000 after purchasing an additional 223 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other news, Director Leah Sweet sold 650 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total transaction of $91,741.00. Following the transaction, the director directly owned 12,064 shares of the company's stock, valued at $1,702,712.96. This represents a 5.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $160.47, for a total transaction of $80,235.00. Following the completion of the sale, the director owned 21,457 shares in the company, valued at $3,443,204.79. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,881 shares of company stock valued at $5,725,860 in the last quarter. Company insiders own 0.70% of the company's stock.

GoDaddy Stock Down 1.9%

GoDaddy stock traded down $2.80 during trading on Monday, reaching $143.16. The stock had a trading volume of 835,698 shares, compared to its average volume of 1,584,333. GoDaddy Inc. has a 52-week low of $132.51 and a 52-week high of $216.00. The business has a 50 day moving average price of $167.44 and a 200 day moving average price of $177.07. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. The stock has a market cap of $19.82 billion, a PE ratio of 25.54, a P/E/G ratio of 1.58 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The firm's quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

GDDY has been the topic of a number of recent analyst reports. Raymond James Financial dropped their price target on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. Royal Bank Of Canada decreased their price target on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Barclays reduced their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Citigroup reduced their price target on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $202.43.

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.