Barclays PLC Lowers Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Barclays PLC cut its Nasdaq stake sharply, trimming holdings by 49.1% in the fourth quarter and selling about 1.2 million shares. It still owned 1,245,999 shares valued at roughly $121 million at the end of the period.
• Nasdaq reported stronger-than-expected quarterly results, posting EPS of $0.96 versus the $0.93 estimate and revenue of $2.14 billion versus $1.42 billion expected. Revenue rose 13.7% year over year.
• The company raised its quarterly dividend to $0.31 per share from $0.27, equal to an annualized $1.24 and a 1.4% yield. Analysts remain generally positive, with a “Moderate Buy” consensus and average price target of $107.36.

Barclays PLC trimmed its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 49.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,245,999 shares of the financial services provider's stock after selling 1,202,440 shares during the quarter. Barclays PLC owned 0.22% of Nasdaq worth $121,024,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in shares of Nasdaq by 3.8% in the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider's stock worth $1,106,000 after acquiring an additional 538 shares during the period. Woodline Partners LP raised its position in shares of Nasdaq by 40.7% in the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider's stock worth $2,652,000 after acquiring an additional 10,110 shares during the period. Focus Partners Wealth raised its position in shares of Nasdaq by 22.0% in the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider's stock worth $1,089,000 after acquiring an additional 2,584 shares during the period. Geneos Wealth Management Inc. boosted its position in Nasdaq by 345.5% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $45,000 after purchasing an additional 463 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in Nasdaq by 4.4% during the second quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider's stock worth $1,018,000 after purchasing an additional 481 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nasdaq

In other news, CEO Adena T. Friedman sold 113,611 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the completion of the sale, the chief executive officer owned 1,965,751 shares in the company, valued at $167,953,765.44. This trade represents a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cohen Tal sold 15,518 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the sale, the insider owned 215,208 shares of the company's stock, valued at $19,530,126. This represents a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 138,162 shares of company stock worth $11,932,913. Insiders own 0.60% of the company's stock.

Nasdaq Stock Up 2.3%

Shares of NASDAQ NDAQ opened at $91.04 on Tuesday. The company has a 50 day simple moving average of $88.96 and a 200-day simple moving average of $90.12. The company has a market capitalization of $51.49 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. 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 announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business's revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. On average, equities research analysts predict that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

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

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of recent analyst reports. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research report on Thursday. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Raymond James Financial reiterated an "outperform" rating and set a $109.00 price target on shares of Nasdaq in a research report on Wednesday, February 25th. Keefe, Bruyette & Woods increased their price target on Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $107.36.

Nasdaq Profile

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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