Belpointe Asset Management LLC Trims Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Belpointe Asset Management LLC has reduced its stake in Nasdaq, Inc. by 36.5%, selling 7,193 shares during the first quarter, leaving it with 12,510 shares worth approximately $949,000.
• Analysts generally favor Nasdaq, with a consensus rating of "Moderate Buy", as several firms, including Raymond James and Barclays, have raised their price targets following positive earnings performance.
• Insider activity has seen multiple executives sell shares, with a total of 24,409 shares sold in the past three months, indicating a 49.46% decrease in one senior vice president's ownership.

Belpointe Asset Management LLC reduced its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 36.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,510 shares of the financial services provider's stock after selling 7,193 shares during the quarter. Belpointe Asset Management LLC's holdings in Nasdaq were worth $949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Grove Bank & Trust increased its position in Nasdaq by 194.6% in 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 increased its position in Nasdaq by 1,509.5% in 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 purchased a new stake in Nasdaq in the first quarter worth $26,000. First Command Advisory Services Inc. purchased a new stake in Nasdaq in the first quarter worth $30,000. Finally, AlphaQuest LLC purchased a new stake in Nasdaq in the first quarter worth $34,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of a number of analyst reports. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Keefe, Bruyette & Woods raised their price target on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Piper Sandler raised their price target on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Finally, Morgan Stanley raised their price target on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

Nasdaq Price Performance

NDAQ stock traded down $1.09 during mid-day trading on Monday, hitting $92.86. 4,971,006 shares of the stock were exchanged, compared to its average volume of 2,461,785. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average price of $93.65 and a 200 day moving average price of $84.28. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The stock has a market capitalization of $53.28 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.06 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company's revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq's payout ratio is 41.54%.

Insider Transactions at Nasdaq

In other news, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares in the company, valued at approximately $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 quarter, insiders have sold 24,409 shares of company stock worth $2,223,599. Company insiders own 0.70% of the company's stock.

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.