Jump Financial LLC Sells 30,371 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Jump Financial LLC has reduced its stake in Nasdaq, Inc. by 41.2%, selling 30,371 shares and now holding 43,408 shares valued at approximately $3.29 million.
• Analysts have issued new price targets for Nasdaq, with Raymond James raising its target from $84.00 to $96.00, and UBS upgrading its rating to "buy" with a target of $115.00.
• Nasdaq has declared a quarterly dividend of $0.27, which will be paid on September 26, representing an annualized dividend yield of 1.1%.

Jump Financial LLC reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 41.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,408 shares of the financial services provider's stock after selling 30,371 shares during the quarter. Jump Financial LLC's holdings in Nasdaq were worth $3,293,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Grove Bank & Trust raised its position in Nasdaq by 194.6% during 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 in the last quarter. Highline Wealth Partners LLC raised its holdings in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Nasdaq in the 1st quarter valued at about $26,000. First Command Advisory Services Inc. bought a new stake in shares of Nasdaq in the 1st quarter valued at about $30,000. Finally, AlphaQuest LLC bought a new stake in shares of Nasdaq in the 1st quarter valued at about $34,000. Institutional investors own 72.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $96.00 target price (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $115.00 in a report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $97.06.

Insider Activity at Nasdaq

In related news, 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 of the company's stock, valued at $8,837,694.99. The trade was a 2.22% 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, 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 completion of the transaction, the senior vice president directly owned 8,879 shares of the company's stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,409 shares of company stock worth $2,223,599. Corporate insiders own 0.70% of the company's stock.

Nasdaq Trading Down 0.5%

NDAQ stock opened at $94.32 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The company's 50-day simple moving average is $91.78 and its 200 day simple moving average is $82.87. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The company has a market capitalization of $54.12 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00.

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

Nasdaq Dividend Announcement

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 dividend payout ratio is 41.54%.

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.

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