Fortis Capital Advisors LLC Has $949,000 Position in Nasdaq, Inc. $NDAQ

Key Points

• Fortis Capital Advisors LLC has reduced its stake in Nasdaq, Inc. by 36.5%, selling 7,193 shares during the 1st quarter, bringing its total holdings to 12,510 shares valued at approximately $949,000.
• Nasdaq reported a quarterly earnings per share (EPS) of $0.85, surpassing analyst estimates of $0.78, with a revenue of $1.31 billion—a 12.7% increase compared to the previous year.
• Brokerages have raised their price targets for Nasdaq, with Royal Bank of Canada setting a target of $108.00 and UBS Group upgrading their rating to "buy" with a price target of $115.00.

Fortis Capital Advisors LLC lowered its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 36.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,510 shares of the financial services provider's stock after selling 7,193 shares during the period. Fortis Capital Advisors LLC's holdings in Nasdaq were worth $949,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NDAQ. Nuveen LLC acquired a new stake in shares of Nasdaq during the 1st quarter valued at $241,614,000. Invesco Ltd. boosted its stake in shares of Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock valued at $416,795,000 after buying an additional 1,592,057 shares during the period. GAMMA Investing LLC boosted its stake in shares of Nasdaq by 7,367.6% during the 1st quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider's stock valued at $85,671,000 after buying an additional 1,114,205 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Nasdaq by 5.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock valued at $1,550,115,000 after buying an additional 993,553 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Nasdaq by 104.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider's stock valued at $125,574,000 after buying an additional 845,725 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares in the company, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,409 shares of company stock worth $2,223,599. 0.70% of the stock is currently owned by company insiders.

Nasdaq Stock Performance

NDAQ traded down $1.93 during trading on Friday, hitting $93.95. The stock had a trading volume of 2,947,784 shares, compared to its average volume of 2,459,310. The firm has a market cap of $53.91 billion, a PE ratio of 36.13, a P/E/G ratio of 2.10 and a beta of 1.02. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $93.60 and a 200-day simple moving average of $84.16.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. Analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Nasdaq's payout ratio is presently 41.54%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NDAQ. Citigroup reissued a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Morgan Stanley raised their price target on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Royal Bank Of Canada raised their price target on shares of Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Piper Sandler raised their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq presently has an average rating of "Moderate Buy" and an average target price of $97.06.

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.