Fieldview Capital Management LLC Buys New Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Fieldview Capital Management acquired a new stake of 11,582 shares in Nasdaq during Q3, valued at approximately $1.024 million.
• Institutional investors own 72.47% of Nasdaq, with large position increases from Vanguard, Massachusetts Financial Services and others, and a new stake reported by Norges Bank, signaling strong institutional buying interest.
• Analysts are broadly bullish (average rating: Buy, average price target $103.80), and Nasdaq recently beat quarterly EPS and revenue estimates while announcing a $0.27 quarterly dividend (1.2% yield).

Fieldview Capital Management LLC acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,582 shares of the financial services provider's stock, valued at approximately $1,024,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Vanguard Group Inc. lifted its position in Nasdaq by 6.9% during the third quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider's stock valued at $5,275,902,000 after buying an additional 3,848,406 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Nasdaq by 33.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider's stock worth $2,438,897,000 after buying an additional 6,840,735 shares during the period. Geode Capital Management LLC increased its position in shares of Nasdaq by 0.8% in the second quarter. Geode Capital Management LLC now owns 11,456,699 shares of the financial services provider's stock worth $1,020,366,000 after acquiring an additional 89,391 shares in the last quarter. Norges Bank acquired a new stake in shares of Nasdaq in the second quarter worth $406,823,000. Finally, Amundi raised its stake in shares of Nasdaq by 55.7% in the 2nd quarter. Amundi now owns 3,535,689 shares of the financial services provider's stock valued at $316,515,000 after acquiring an additional 1,264,975 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Argus upgraded shares of Nasdaq to a "strong-buy" rating in a report on Wednesday, February 11th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $108.00 price target on shares of Nasdaq in a report on Friday, January 30th. TD Cowen raised Nasdaq from a "hold" rating to a "buy" rating and raised their price objective for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. Barclays restated an "overweight" rating and set a $115.00 price objective (up from $114.00) on shares of Nasdaq in a research note on Friday, January 30th. Finally, Morgan Stanley set a $116.00 target price on Nasdaq and gave the stock an "overweight" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Nasdaq presently has an average rating of "Buy" and an average price target of $103.80.

Nasdaq Price Performance

Shares of NDAQ stock opened at $88.05 on Tuesday. The firm has a fifty day simple moving average of $91.56 and a 200-day simple moving average of $90.94. The company has a market capitalization of $50.05 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.45 and a beta of 1.04. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq's payout ratio is presently 34.95%.

Insider Transactions at Nasdaq

In related news, EVP John Zecca sold 4,500 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the transaction, the executive vice president owned 125,674 shares of the company's stock, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adena T. Friedman sold 300,000 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the sale, the chief executive officer owned 1,924,903 shares of the company's stock, valued at approximately $186,542,349.73. This trade represents a 13.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 604,500 shares of company stock worth $58,440,045. Corporate insiders own 0.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.