Nasdaq, Inc. $NDAQ Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets has reduced its stake in Nasdaq, Inc. by 12.0%, selling 149,078 shares in the first quarter and retaining about 0.19% of the company, valued at approximately $82.6 million.
• Several institutional investors increased their positions in Nasdaq during the same period, with Ieq Capital LLC growing its stake by 19.5% and Gabelli Funds LLC increasing it by 70.2%.
• Nasdaq recently declared a quarterly dividend of $0.27 per share, with a payout ratio of 41.54%, and will be paid to shareholders of record on September 12th.

BNP Paribas Financial Markets decreased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 12.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,089,043 shares of the financial services provider's stock after selling 149,078 shares during the quarter. BNP Paribas Financial Markets owned 0.19% of Nasdaq worth $82,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of 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 valued at $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 valued at $26,000 after buying an additional 317 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Nasdaq during the first quarter valued at approximately $26,000. First Command Advisory Services Inc. bought a new position in Nasdaq in the first quarter worth approximately $30,000. Finally, AlphaQuest LLC bought a new position in Nasdaq in the first quarter worth approximately $34,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Stock Down 1.2%

NASDAQ NDAQ traded down $1.15 during midday trading on Tuesday, hitting $93.59. 3,108,442 shares of the company traded hands, compared to its average volume of 3,254,512. 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 company has a market cap of $53.70 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company's 50-day simple moving average is $92.64 and its 200-day simple moving average is $83.36. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced 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 analysts' expectations of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. As a group, equities research analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq's dividend payout ratio (DPR) is presently 41.54%.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of several research analyst reports. Citigroup reissued a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Royal Bank Of Canada increased their price objective on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Piper Sandler increased their price objective on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. 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 stock. According to MarketBeat, Nasdaq has an average rating of "Moderate Buy" and a consensus price target of $97.06.

Insider Transactions at Nasdaq

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

About Nasdaq

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.