Elevation Point Wealth Partners LLC Takes $812,000 Position in Nasdaq, Inc. $NDAQ

Key Points

• Elevation Point Wealth Partners bought 10,300 Nasdaq shares worth approximately $812,000 in the second quarter. Institutional investors and hedge funds collectively own 72.47% of NDAQ.
• Analysts remain broadly bullish, with Nasdaq holding a consensus “Buy” rating and an average price target of $110.30. Barclays, Morgan Stanley, and TD Cowen recently maintained positive ratings and raised or set targets between $105 and $120.
• Nasdaq reported quarterly EPS of $1.07, beating estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. The company also declared a quarterly dividend of $0.31 per share, equivalent to a 1.3% annual yield.

Elevation Point Wealth Partners LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,300 shares of the financial services provider's stock, valued at approximately $812,000.

Several other large investors have also modified their holdings of the company. MV Capital Management Inc. purchased a new position in shares of Nasdaq during the fourth quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new stake in Nasdaq in the 4th quarter valued at $35,000. Uniplan Investment Counsel Inc. acquired a new stake in Nasdaq during the 4th quarter worth $35,000. Fideuram Asset Management Ireland dac purchased a new position in Nasdaq during the 4th quarter worth $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Nasdaq during the 2nd quarter worth $37,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Pc Nelson Griggs sold 11,010 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ab Investor bought 56,782 shares of the company's stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This represents a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 41,797 shares of company stock worth $3,926,319 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NDAQ has been the topic of a number of research reports. Barclays reissued an "overweight" rating and set a $111.00 price target (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a research report on Monday, July 20th. Morgan Stanley reiterated an "overweight" rating and issued a $120.00 target price on shares of Nasdaq in a research note on Friday, July 24th. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. Finally, TD Cowen reaffirmed a "buy" rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $110.30.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $98.79 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The business's 50 day moving average is $90.00 and its two-hundred day moving average is $88.05. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79. The stock has a market capitalization of $55.22 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.30 and a beta of 0.96.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period last year, the firm earned $0.85 EPS. The company's quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

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

Nasdaq Company 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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