Nasdaq, Inc. $NDAQ Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Nasdaq, Inc. by 21.9% in the first quarter, now holding shares valued at $1.90 million.
• Institutional investors currently own 72.47% of Nasdaq's stock, with notable increases in holdings from firms such as Vanguard Group Inc. and Ameriprise Financial Inc..
• Analysts have issued a consensus rating of "Moderate Buy" for Nasdaq, with an average price target of $97.06 following upward adjustments from several brokerages.

Gulf International Bank UK Ltd decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,055 shares of the financial services provider's stock after selling 7,043 shares during the period. Gulf International Bank UK Ltd's holdings in Nasdaq were worth $1,900,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in shares of Nasdaq by 7.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock valued at $3,274,000 after acquiring an additional 3,096 shares during the last quarter. USA Financial Formulas lifted its holdings in shares of Nasdaq by 61.1% in the 1st quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock valued at $1,353,000 after buying an additional 6,764 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Nasdaq by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock valued at $172,098,000 after buying an additional 27,622 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Nasdaq during the fourth quarter worth $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in Nasdaq during the first quarter worth $222,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Insiders Place Their Bets

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $201,006.45. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,409 shares of company stock worth $2,887,839. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on NDAQ shares. Raymond James Financial reaffirmed an "outperform" rating and set a $96.00 price objective (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Barclays boosted their price target on Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Piper Sandler boosted their price target on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Morgan Stanley boosted their price target on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Nasdaq presently has a consensus rating of "Moderate Buy" and an average target price of $97.06.

Nasdaq Stock Down 0.4%

Shares of NASDAQ NDAQ traded down $0.34 on Monday, hitting $94.34. The company had a trading volume of 2,795,783 shares, compared to its average volume of 3,309,298. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The business has a 50 day moving average of $90.82 and a two-hundred day moving average of $82.38. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $54.13 billion, a P/E ratio of 36.28, a PEG ratio of 2.08 and a beta of 1.00.

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 for the quarter, topping the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company's revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.27 dividend. 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 41.54%.

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.