Woodline Partners LP Invests $1.92 Million in Nasdaq, Inc. (NASDAQ:NDAQ)

Woodline Partners LP purchased a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,852 shares of the financial services provider's stock, valued at approximately $1,921,000.

Several other large investors have also made changes to their positions in the business. Rakuten Securities Inc. bought a new position in shares of Nasdaq during the 4th quarter valued at about $26,000. Kestra Investment Management LLC purchased a new stake in shares of Nasdaq during the 4th quarter valued at about $33,000. Kapitalo Investimentos Ltda purchased a new stake in Nasdaq during the 4th quarter valued at $37,000. TCTC Holdings LLC bought a new position in Nasdaq during the fourth quarter valued at $41,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Nasdaq in the 4th quarter worth about $43,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

Shares of NDAQ traded up $0.81 during mid-day trading on Thursday, reaching $83.36. The company had a trading volume of 2,622,919 shares, compared to its average volume of 2,939,751. The stock has a 50 day moving average of $76.15 and a two-hundred day moving average of $78.23. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $47.86 billion, a P/E ratio of 43.46, a PEG ratio of 2.12 and a beta of 1.00. Nasdaq, Inc. has a 52-week low of $58.28 and a 52-week high of $84.15.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same period last year, the firm earned $0.63 EPS. The company's quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.27 dividend. The ex-dividend date is Friday, June 13th. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.30%. Nasdaq's dividend payout ratio is 49.09%.

Insider Activity at Nasdaq

In related news, EVP Sarah Youngwood sold 14,959 shares of Nasdaq stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $73.68, for a total value of $1,102,179.12. Following the completion of the sale, the executive vice president now owns 59,694 shares in the company, valued at approximately $4,398,253.92. This trade represents a 20.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction on Friday, April 4th. The shares were sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the transaction, the executive vice president now owns 61,980 shares of the company's stock, valued at approximately $4,450,783.80. This trade represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on NDAQ. Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Citigroup cut their price target on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Piper Sandler upped their target price on shares of Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, Bank of America lifted their price target on shares of Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Nasdaq has a consensus rating of "Moderate Buy" and a consensus price target of $86.50.

Nasdaq Profile

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.