1248 Management LLC purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,947 shares of the financial services provider's stock, valued at approximately $299,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust raised its position in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after buying an additional 216 shares in the last quarter. Highline Wealth Partners LLC raised its position in shares of Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after buying an additional 317 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the first quarter valued at approximately $26,000. First Command Advisory Services Inc. acquired a new position in Nasdaq during the first quarter valued at approximately $30,000. Finally, AlphaQuest LLC acquired a new position in Nasdaq during the first quarter valued at approximately $34,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the completion of the transaction, the executive vice president directly owned 111,035 shares in the company, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,409 shares of company stock valued at $2,223,599 over the last 90 days. Company insiders own 0.70% of the company's stock.
Nasdaq Trading Down 1.2%
Shares of Nasdaq stock traded down $1.09 during trading on Monday, hitting $92.86. The company's stock had a trading volume of 4,971,006 shares, compared to its average volume of 3,253,389. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The stock has a market cap of $53.28 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The stock has a 50-day moving average price of $93.60 and a two-hundred day moving average price of $84.21.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. Nasdaq's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 earnings per share. Equities research analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.
Nasdaq Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq's dividend payout ratio is presently 41.54%.
Wall Street Analyst Weigh In
Several research analysts have commented on NDAQ shares. Raymond James Financial restated an "outperform" rating and set a $96.00 price objective (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Morgan Stanley boosted their price objective on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Piper Sandler boosted their target price on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, UBS Group raised shares of Nasdaq from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.06.
Read Our Latest Stock Report on NDAQ
About Nasdaq
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Free Report)
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.
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