36,000 Shares in Nasdaq, Inc. $NDAQ Purchased by Lombard Odier Asset Management Europe Ltd

Key Points

• Lombard Odier Asset Management Europe Ltd opened a new position in Nasdaq, buying 36,000 shares valued at about $3.5 million in the fourth quarter.
• Nasdaq reported better-than-expected quarterly results, with EPS of $0.96 versus $0.93 expected and revenue of $2.14 billion, up 13.7% year over year.
• The company also raised its quarterly dividend to $0.31 per share from $0.27, while analysts currently rate the stock a consensus Moderate Buy with a $107.36 price target.

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 36,000 shares of the financial services provider's stock, valued at approximately $3,497,000.

A number of other hedge funds have also modified their holdings of NDAQ. NBC Securities Inc. grew its stake in Nasdaq by 7.8% in the fourth quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider's stock valued at $149,000 after purchasing an additional 111 shares in the last quarter. ORG Wealth Partners LLC grew its stake in Nasdaq by 6.9% in the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 112 shares in the last quarter. Independent Advisor Alliance grew its stake in Nasdaq by 2.6% in the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider's stock valued at $444,000 after purchasing an additional 117 shares in the last quarter. Orgel Wealth Management LLC grew its stake in Nasdaq by 4.7% in the fourth quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 118 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its stake in Nasdaq by 1.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider's stock valued at $831,000 after purchasing an additional 128 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Adena T. Friedman sold 113,611 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the sale, the chief executive officer owned 1,965,751 shares in the company, valued at $167,953,765.44. The trade was a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bradley J. Peterson sold 7,710 shares of the company's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the transaction, the executive vice president directly owned 141,035 shares of the company's stock, valued at approximately $12,808,798.70. The trade was a 5.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 138,162 shares of company stock worth $11,932,913. 0.60% of the stock is owned by company insiders.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $89.29 on Wednesday. The stock has a market cap of $50.50 billion, a P/E ratio of 26.89, a PEG ratio of 1.82 and a beta of 0.97. The stock has a 50 day simple moving average of $89.02 and a 200 day simple moving average of $90.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 1-year low of $77.09 and a 1-year high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 EPS. Research analysts anticipate that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, June 12th. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's dividend payout ratio is 37.35%.

Analyst Ratings Changes

A number of analysts have recently issued reports on NDAQ shares. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $97.00 and gave the company a "market perform" rating in a research report on Friday, April 24th. TD Cowen raised Nasdaq from a "hold" rating to a "buy" rating and raised their price objective for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. Loop Capital set a $113.00 price objective on Nasdaq in a research report on Friday, April 24th. Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Finally, Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $107.36.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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