California Public Employees Retirement System lowered its position in Web.com Group, Inc. (NASDAQ:WEB) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,000 shares of the information services provider’s stock after selling 800 shares during the period. California Public Employees Retirement System owned approximately 0.27% of Web.com Group worth $2,586,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of WEB. Aristotle Fund L.P. raised its stake in Web.com Group by 15.1% in the first quarter. Aristotle Fund L.P. now owns 882,000 shares of the information services provider’s stock worth $17,023,000 after buying an additional 116,000 shares during the last quarter. American International Group Inc. increased its position in shares of Web.com Group by 7.1% in the first quarter. American International Group Inc. now owns 26,177 shares of the information services provider’s stock worth $505,000 after buying an additional 1,729 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Web.com Group during the first quarter worth about $537,000. Norges Bank acquired a new position in shares of Web.com Group during the fourth quarter worth about $19,852,000. Finally, Stevens Capital Management LP acquired a new position in shares of Web.com Group during the first quarter worth about $261,000. 86.99% of the stock is currently owned by institutional investors.
Web.com Group, Inc. (NASDAQ:WEB) opened at 23.45 on Friday. The stock has a market capitalization of $1.15 billion, a PE ratio of 117.25 and a beta of 0.92. Web.com Group, Inc. has a 52 week low of $12.90 and a 52 week high of $25.95. The firm has a 50-day moving average price of $23.61 and a 200-day moving average price of $20.97.
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WEB has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating and issued a $24.00 price objective on shares of Web.com Group in a research note on Friday, May 5th. Cantor Fitzgerald upgraded Web.com Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $24.00 in a research note on Friday, May 5th. ValuEngine upgraded Web.com Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 20th. Zacks Investment Research downgraded Web.com Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Citigroup Inc. raised their target price on Web.com Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $22.71.
In related news, insider Roseann Duran sold 10,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $23.04, for a total transaction of $230,400.00. Following the completion of the transaction, the insider now owns 35,500 shares in the company, valued at $817,920. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.51% of the company’s stock.
About Web.com Group
Web.com Group, Inc provides a range of Internet services to small businesses. The Company operates through Web services and products segment. The Company offers subscription-based solutions, including domains, hosting, Website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products and e-commerce solutions.
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