Jupiter Topco LLC Takes $4.34 Million Position in Nasdaq, Inc. $NDAQ

Key Points

• Jupiter Topco LLC acquired 55,086 Nasdaq shares during the second quarter, representing a position worth approximately $4.34 million. Institutional investors and hedge funds collectively own 72.47% of NDAQ.
• Nasdaq reported quarterly EPS of $1.07, exceeding the $0.98 consensus estimate, while revenue rose 14.9% year over year to $2.53 billion. Analysts currently have a consensus “Buy” rating and an average price target of $110.30.
• The company declared a quarterly dividend of $0.31 per share, equal to an annualized $1.24 payout and a 1.3% yield. Nasdaq shares recently opened at $97.54, below the 52-week high of $101.79.

Jupiter Topco LLC acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 55,086 shares of the financial services provider's stock, valued at approximately $4,341,000.

A number of other institutional investors also recently bought and sold shares of the business. MV Capital Management Inc. acquired a new position in Nasdaq in the 4th quarter valued at $28,000. Fiduciary Financial Advisors acquired a new stake in shares of Nasdaq in the 2nd quarter worth $25,000. Nemes Rush Group LLC purchased a new stake in shares of Nasdaq in the fourth quarter valued at about $35,000. Uniplan Investment Counsel Inc. purchased a new stake in shares of Nasdaq in the fourth quarter valued at about $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Nasdaq during the fourth quarter worth about $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Trading Down 1.1%

Shares of NDAQ opened at $97.54 on Wednesday. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The company has a market capitalization of $54.52 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.97. The stock has a fifty day moving average of $91.82 and a two-hundred day moving average of $88.65. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period last year, the company earned $0.85 earnings per share. The company's quarterly revenue was up 14.9% on a year-over-year basis. As a group, analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, September 11th. Nasdaq's payout ratio is currently 36.15%.

Insider Transactions at Nasdaq

In other Nasdaq news, major shareholder Ab Investor purchased 56,782 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the transaction, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pc Nelson Griggs sold 11,010 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,797 shares of company stock valued at $3,926,319 over the last 90 days. Corporate insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of analyst reports. Barclays restated an "overweight" rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Zacks Research raised Nasdaq from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. TD Cowen restated a "buy" rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research note on Thursday, June 11th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $120.00 price target on shares of Nasdaq in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Nasdaq currently has an average rating of "Buy" and an average target price of $110.30.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

Want to see what other hedge funds are holding NDAQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nasdaq, Inc. (NASDAQ:NDAQ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source