Counterpoint Mutual Funds LLC Purchases Shares of 3,847 Nasdaq, Inc. $NDAQ

Key Points

• Counterpoint Mutual Funds LLC acquired 3,847 shares of Nasdaq, Inc., valued at approximately $344,000, during the 2nd quarter.
• Several hedge funds have increased their stakes in Nasdaq, with insiders selling a total of 24,409 shares worth $2.2 million in the past three months.
• Analyst ratings for Nasdaq have recently improved, with price targets ranging from $86.00 to $105.00 and a consensus rating of "Moderate Buy."

Counterpoint Mutual Funds LLC purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,847 shares of the financial services provider's stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Grove Bank & Trust grew its holdings in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after purchasing an additional 216 shares during the period. Bruce G. Allen Investments LLC lifted its position in Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after acquiring an additional 120 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Nasdaq during the 1st quarter worth approximately $26,000. Highline Wealth Partners LLC lifted its position in Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after acquiring an additional 317 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Nasdaq during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction on Friday, August 1st. The stock was 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 in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company'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 transaction, the senior vice president owned 8,879 shares of the company's stock, valued at approximately $829,742.55. The trade was 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 worth $2,223,599 in the last three months. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

NDAQ has been the topic of several recent research reports. Piper Sandler boosted their price target on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Oppenheimer reissued an "outperform" rating and set a $101.00 price target (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Finally, Morgan Stanley boosted their price target on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Stock Performance

NDAQ stock opened at $87.15 on Thursday. The firm has a market cap of $50.01 billion, a P/E ratio of 33.52, a P/E/G ratio of 1.94 and a beta of 1.02. The stock's 50 day simple moving average is $93.73 and its 200 day simple moving average is $84.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.07. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm's revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. As a group, equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

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

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.

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