Greenleaf Trust Grows Holdings in Nasdaq, Inc. $NDAQ

Key Points

• Greenleaf Trust increased its stake in Nasdaq, Inc. by 25.7% in Q2, acquiring an additional 3,101 shares, bringing its total holdings to 15,161 shares valued at $1,356,000.
• Insider transactions show significant selling, with SVP Michelle Lynn Daly selling 8,691 shares at an average price of $93.45, representing a 49.46% decrease in her ownership.
• Nasdaq recently reported earnings of $0.85 per share, exceeding analysts' estimates, and announced a quarterly dividend of $0.27, equating to an annual yield of 1.2%.

Greenleaf Trust grew its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 25.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,161 shares of the financial services provider's stock after buying an additional 3,101 shares during the period. Greenleaf Trust's holdings in Nasdaq were worth $1,356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NDAQ. Bruce G. Allen Investments LLC lifted its position in shares of Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after purchasing an additional 120 shares during the period. Vestcor Inc lifted its position in shares of Nasdaq by 1.6% in the 1st quarter. Vestcor Inc now owns 8,825 shares of the financial services provider's stock worth $669,000 after purchasing an additional 141 shares during the period. Sax Wealth Advisors LLC lifted its holdings in 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 buying an additional 144 shares during the period. Wesbanco Bank Inc. lifted its holdings in 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 buying an additional 187 shares during the period. Finally, Grove Bank & Trust lifted its holdings in 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 buying an additional 216 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nasdaq

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

Nasdaq Price Performance

NDAQ opened at $86.91 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $49.87 billion, a PE ratio of 33.43, a P/E/G ratio of 1.94 and a beta of 0.98. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The stock has a 50-day moving average price of $93.58 and a 200-day moving average price of $85.28.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. The business had revenue of $1.31 billion during 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 business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. Sell-side analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 12th. Nasdaq's payout ratio is presently 41.54%.

Analyst Ratings Changes

NDAQ has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Morgan Stanley set a $90.00 target price on Nasdaq and gave the company an "equal weight" rating in a research note on Wednesday. Piper Sandler raised their price objective on Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Royal Bank Of Canada raised their price objective on Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays lifted their price target on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $97.31.

Nasdaq Company 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.

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