California State Teachers Retirement System Has $55.24 Million Stock Holdings in Nasdaq, Inc. $NDAQ

Key Points

• California State Teachers Retirement System reduced its Nasdaq stake by 3.2% in the first quarter, selling 21,368 shares and retaining 650,743 shares worth approximately $55.24 million. Institutional investors and hedge funds collectively own 72.47% of Nasdaq.
• Nasdaq reported quarterly earnings of $1.07 per share, beating estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. Analysts maintain a consensus “Buy” rating with an average price target of $109.73.
• The company declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.3% yield. Several Nasdaq insiders sold shares recently, with insiders selling 30,787 shares worth about $2.87 million over the past 90 days.

California State Teachers Retirement System decreased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 650,743 shares of the financial services provider's stock after selling 21,368 shares during the period. California State Teachers Retirement System owned 0.12% of Nasdaq worth $55,242,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of NDAQ. MV Capital Management Inc. acquired a new position in shares of Nasdaq in the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in shares of Nasdaq in the fourth quarter valued at about $34,000. Nemes Rush Group LLC acquired a new stake in Nasdaq in the 4th quarter worth about $35,000. Uniplan Investment Counsel Inc. bought a new position in shares of Nasdaq during the fourth quarter worth approximately $35,000. Finally, Fideuram Asset Management Ireland dac bought a new position in shares of Nasdaq during the fourth quarter worth approximately $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Price Performance

Nasdaq stock opened at $95.16 on Friday. The stock's 50 day moving average is $87.74 and its 200 day moving average is $88.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $53.19 billion, a P/E ratio of 27.74, a P/E/G ratio of 1.29 and a beta of 0.99. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company's revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts expect that Nasdaq, Inc. will post 4.13 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq's dividend payout ratio (DPR) is currently 36.15%.

Analyst Ratings Changes

A number of equities analysts have commented on NDAQ shares. Raymond James Financial restated an "outperform" rating and set a $113.00 price objective (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Loop Capital set a $113.00 price target on Nasdaq in a research note on Friday, April 24th. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a research note on Friday, July 24th. Barclays reissued an "overweight" rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Finally, Morgan Stanley restated an "overweight" rating and issued a $120.00 target price on shares of Nasdaq in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Nasdaq has an average rating of "Buy" and an average target price of $109.73.

Insider Activity

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $93.96, for a total transaction of $1,034,499.60. Following the completion of the transaction, the insider owned 216,011 shares in the company, valued at approximately $20,296,393.56. The trade was a 4.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley J. Peterson sold 13,000 shares of the firm's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the transaction, the executive vice president owned 128,293 shares in the company, valued at $11,881,214.73. This represents a 9.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,787 shares of company stock valued at $2,865,505 in the last ninety days. 0.60% of the stock is owned by company insiders.

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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