MBB Public Markets I LLC Buys Shares of 4,048 Nasdaq, Inc. $NDAQ

Key Points

• MBB Public Markets I LLC acquired 4,048 shares of Nasdaq, Inc. for approximately $307,000 during the first quarter, marking a notable investment by the fund.
• Several institutional investors made significant investments in Nasdaq, including Ascent Group LLC with a position valued at $2.77 million, indicating growing institutional interest in the company.
• Analysts have increased their ratings for Nasdaq, with UBS and Royal Bank of Canada both raising their price targets, reflecting positive sentiment and potential for growth in the company's stock price.

MBB Public Markets I LLC purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,048 shares of the financial services provider's stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. Ascent Group LLC purchased a new position in Nasdaq during the first quarter valued at $2,774,000. Meiji Yasuda Life Insurance Co purchased a new stake in shares of Nasdaq in the first quarter worth $484,000. United Services Automobile Association bought a new position in shares of Nasdaq during the first quarter valued at $620,000. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Nasdaq by 460.7% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 36,369 shares of the financial services provider's stock valued at $2,759,000 after acquiring an additional 29,883 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Nasdaq in the 1st quarter worth about $863,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Insider Buying and Selling

In other Nasdaq 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 transaction of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. The trade was a 49.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total transaction of $201,006.45. Following the sale, the executive vice president directly owned 92,551 shares of the company's stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,409 shares of company stock worth $2,223,599. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several recent analyst reports. UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Royal Bank Of Canada lifted their price target on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Raymond James Financial reiterated an "outperform" rating and set a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Piper Sandler increased 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, Oppenheimer reiterated an "outperform" rating and set a $101.00 price target (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Price Performance

NASDAQ NDAQ opened at $94.66 on Thursday. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The stock has a 50-day moving average of $93.40 and a 200 day moving average of $83.95. The company has a market capitalization of $54.31 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96.

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. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter last year, the company posted $0.69 earnings per share. The firm's quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.1%. Nasdaq's dividend payout ratio (DPR) is currently 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.

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