Nasdaq, Inc. (NASDAQ:NDAQ) Shares Acquired by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its stake in Nasdaq, Inc. by 7.1% in the first quarter, owning 51,267 shares worth approximately $3.89 million.
• Nasdaq reported a 12.7% year-over-year revenue increase to $1.31 billion for the last quarter, exceeding analysts' expectations.
• The company has announced a quarterly dividend of $0.27, translating to a 1.1% dividend yield, which is set to be paid out on September 26th.

Headlands Technologies LLC lifted its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 51,267 shares of the financial services provider's stock after acquiring an additional 3,402 shares during the quarter. Headlands Technologies LLC's holdings in Nasdaq were worth $3,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Nasdaq in the fourth quarter valued at approximately $4,234,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Nasdaq by 74.8% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 10,188 shares of the financial services provider's stock valued at $788,000 after buying an additional 4,361 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Nasdaq by 27.9% in the 4th quarter. Wedbush Securities Inc. now owns 3,665 shares of the financial services provider's stock valued at $283,000 after buying an additional 800 shares during the period. Invesco Ltd. raised its holdings in shares of Nasdaq by 40.3% in the 4th quarter. Invesco Ltd. now owns 3,902,214 shares of the financial services provider's stock valued at $301,680,000 after buying an additional 1,120,538 shares during the period. Finally, FIL Ltd lifted its stake in Nasdaq by 87.4% during the 4th quarter. FIL Ltd now owns 410,212 shares of the financial services provider's stock worth $31,713,000 after acquiring an additional 191,259 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Stock Up 0.2%

Shares of NASDAQ NDAQ opened at $96.56 on Thursday. The business has a 50-day moving average of $89.14 and a two-hundred day moving average of $81.63. The company has a market capitalization of $55.41 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick 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 for the quarter, topping the consensus estimate of $0.78 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The business's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. On average, analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders 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 dividend yield of 1.1%. Nasdaq's dividend payout ratio is presently 41.54%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a report on Friday, April 18th. The Goldman Sachs Group reissued a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Oppenheimer restated an "outperform" rating and issued a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Redburn Atlantic raised shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler increased their target price on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Nasdaq presently has an average rating of "Moderate Buy" and a consensus target price of $97.06.

Insider Activity at Nasdaq

In related news, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider directly owned 211,405 shares in the company, valued at $17,552,957.15. This trade represents a 3.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the sale, the executive vice president directly owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,409 shares of company stock worth $2,887,839. Corporate insiders own 0.70% of the company's stock.

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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