Envestnet Portfolio Solutions Inc. Lowers Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Envestnet Portfolio Solutions Inc. decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 23.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,513 shares of the financial services provider's stock after selling 6,418 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Nasdaq were worth $1,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NDAQ. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% in the 1st 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 period. Rakuten Securities Inc. purchased a new stake in shares of Nasdaq in the 4th quarter valued at approximately $26,000. Highline Wealth Partners LLC grew its stake in shares of Nasdaq by 1,509.5% in the 1st 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 period. Opal Wealth Advisors LLC purchased a new stake in shares of Nasdaq in the 1st quarter valued at approximately $26,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Nasdaq in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Insider Buying and Selling

In related news, EVP Bryan Everard Smith sold 657 shares of Nasdaq stock in a transaction on Friday, April 4th. The shares were sold at an average price of $71.81, for a total transaction of $47,179.17. Following the sale, the executive vice president now directly owns 61,980 shares in the company, valued at $4,450,783.80. This trade represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider now owns 211,405 shares in the company, valued at $17,552,957.15. This represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Nasdaq Stock Up 1.6%

Shares of NDAQ traded up $1.39 during midday trading on Tuesday, reaching $88.12. The stock had a trading volume of 3,603,504 shares, compared to its average volume of 3,017,156. Nasdaq, Inc. has a 1-year low of $59.44 and a 1-year high of $88.44. The company's fifty day simple moving average is $80.89 and its two-hundred day simple moving average is $78.84. The company has a market cap of $50.59 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 2.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business earned $0.63 EPS. The company's revenue was up 10.7% on a year-over-year basis. Equities research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.27 per share. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, June 13th. Nasdaq's dividend payout ratio (DPR) is currently 49.09%.

Analyst Ratings Changes

Several analysts have recently weighed in on NDAQ shares. Piper Sandler increased their price target on shares of Nasdaq from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Oppenheimer set a $96.00 price target on shares of Nasdaq and gave the company an "outperform" rating in a research note on Tuesday, June 17th. Keefe, Bruyette & Woods increased their price objective on shares of Nasdaq from $87.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Bank of America increased their price objective on shares of Nasdaq from $103.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Finally, Citigroup lowered their price objective on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.19.

Nasdaq 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.