2,960 Shares in Nasdaq, Inc. $NDAQ Purchased by 1248 Management LLC

Key Points

• 1248 Management LLC has acquired 2,960 shares of Nasdaq, Inc., valued at approximately $225,000, as part of its recent investment activities in the financial sector.
• Wall Street analysts have shown optimism for Nasdaq's stock, with several firms raising their price targets, including Piper Sandler and Deutsche Bank, suggesting a consensus rating of "Moderate Buy."
• Nasdaq's recent quarterly earnings report indicated an EPS of $0.85, surpassing analysts' expectations, with a year-over-year revenue increase of 12.7%.

1248 Management LLC acquired a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,960 shares of the financial services provider's stock, valued at approximately $225,000.

Several other institutional investors have also added to or reduced their stakes in NDAQ. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after buying an additional 216 shares during the last quarter. Highline Wealth Partners LLC grew its stake in shares of Nasdaq by 1,509.5% during the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after buying an additional 317 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Nasdaq during the first quarter worth $26,000. First Command Advisory Services Inc. bought a new stake in shares of Nasdaq during the first quarter worth $30,000. Finally, AlphaQuest LLC bought a new stake in shares of Nasdaq during the first quarter worth $34,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Trading Up 0.6%

NDAQ stock traded up $0.53 during midday trading on Thursday, hitting $94.30. The stock had a trading volume of 3,693,337 shares, compared to its average volume of 3,248,660. The firm has a market cap of $54.11 billion, a P/E ratio of 36.27, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The business has a fifty day moving average price of $92.87 and a two-hundred day moving average price of $83.51.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, sell-side analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued 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 1.1%. Nasdaq's dividend payout ratio is currently 41.54%.

Insider Activity

In other news, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,409 shares of company stock worth $2,223,599. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Oppenheimer reaffirmed an "outperform" rating and set a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Barclays boosted their target price on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq Company 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.