Acadian Asset Management LLC Sells 19,404 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Acadian Asset Management LLC has reduced its stake in Nasdaq, Inc. by 24.1%, now holding 61,193 shares valued at approximately $4.64 million.
• Nasdaq recently reported a net margin of 18.59% and earnings per share of $0.85, surpassing analysts' expectations and reflecting a 12.7% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.27 per share, set to be paid on September 26th, 2023, which equates to an annual yield of 1.1%.

Acadian Asset Management LLC lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 24.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,193 shares of the financial services provider's stock after selling 19,404 shares during the quarter. Acadian Asset Management LLC's holdings in Nasdaq were worth $4,641,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in shares of Nasdaq by 345.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 463 shares during the last quarter. Focus Partners Wealth raised its position in shares of Nasdaq by 22.0% in the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider's stock valued at $1,089,000 after acquiring an additional 2,584 shares during the period. Advisory Alpha LLC raised its position in shares of Nasdaq by 10.4% in the 1st quarter. Advisory Alpha LLC now owns 3,591 shares of the financial services provider's stock valued at $272,000 after acquiring an additional 339 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nasdaq by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,981,130 shares of the financial services provider's stock valued at $302,009,000 after acquiring an additional 262,661 shares during the period. Finally, Woodline Partners LP raised its position in shares of Nasdaq by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider's stock valued at $2,652,000 after acquiring an additional 10,110 shares during the period. Institutional investors own 72.47% of the company's stock.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction on Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the transaction, the executive vice president directly owned 92,551 shares of the company's stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president directly owned 8,879 shares of the company's stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,409 shares of company stock valued at $2,223,599 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

Nasdaq Price Performance

Shares of NDAQ opened at $93.95 on Friday. The stock has a market capitalization of $53.91 billion, a P/E ratio of 36.13, a P/E/G ratio of 2.10 and a beta of 1.02. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The company has a 50 day moving average of $93.60 and a 200-day moving average of $84.18. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

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 for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the business earned $0.69 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's payout ratio is 41.54%.

Analysts Set New Price Targets

A number of analysts recently weighed in on NDAQ shares. The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating and issued a $96.00 price target (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price target on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Oppenheimer reiterated an "outperform" rating and issued a $101.00 price target (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Finally, Piper Sandler increased their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Fourteen research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

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.

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