FORA Capital LLC Takes $664,000 Position in Nasdaq, Inc. $NDAQ

Key Points

• FORA Capital LLC has invested approximately $664,000 in Nasdaq, Inc. by purchasing 8,754 shares during the first quarter.
• Nasdaq has reported a 12.7% increase in quarterly revenue year-over-year, achieving $1.31 billion, and beating earnings per share estimates at $0.85.
• Multiple institutional investors have significantly increased their holdings in Nasdaq, with 72.47% of the company's stock now owned by institutional investors and hedge funds.

FORA Capital LLC purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,754 shares of the financial services provider's stock, valued at approximately $664,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NDAQ. Vestcor Inc increased its stake in shares of Nasdaq by 1.6% in the first quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock worth $669,000 after acquiring an additional 141 shares during the period. Sax Wealth Advisors LLC increased its stake in shares of Nasdaq by 0.5% in the first quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider's stock worth $2,282,000 after acquiring an additional 144 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Nasdaq by 1.0% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock worth $1,260,000 after acquiring an additional 157 shares during the period. Wesbanco Bank Inc. increased its stake in shares of Nasdaq by 7.1% in the first quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider's stock worth $215,000 after acquiring an additional 187 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Morgan Stanley increased their price target on shares of Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Piper Sandler increased their price target on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Citigroup reissued a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of "Moderate Buy" and an average target price of $97.06.

Nasdaq Price Performance

Nasdaq stock opened at $93.59 on Wednesday. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The firm has a market capitalization of $53.70 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 2.08 and a beta of 1.02. The company has a fifty day simple moving average of $92.75 and a 200-day simple moving average of $83.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. On average, equities analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

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

Insider Activity

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. The trade was a 49.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares in the company, valued at approximately $8,837,694.99. This trade represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,409 shares of company stock valued at $2,223,599. 0.70% of the stock is currently owned by insiders.

About Nasdaq

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.