Nasdaq, Inc. (NASDAQ:NDAQ) Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Nasdaq, Inc. by 7.7%, holding 91,662 shares valued at approximately $6.97 million as of the latest SEC filing.
• Nasdaq reported $0.85 earnings per share for the last quarter, exceeding expectations, with a revenue of $1.31 billion—up 12.7% year-over-year.
• The company declared a quarterly dividend of $0.27 per share, contributing to an annualized dividend of $1.08 and a yield of 1.1%.

Ethic Inc. boosted its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 7.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,662 shares of the financial services provider's stock after purchasing an additional 6,544 shares during the period. Ethic Inc.'s holdings in Nasdaq were worth $6,970,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its position in Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after purchasing an additional 216 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq during the 1st quarter valued at $26,000. Highline Wealth Partners LLC boosted its stake in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after acquiring an additional 317 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Nasdaq in the 1st quarter worth $30,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Nasdaq in the 4th quarter worth $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total value of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This represents a 9.39% 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, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,409 shares of company stock valued at $2,887,839. 0.70% of the stock is owned by insiders.

Nasdaq Trading Down 0.8%

NASDAQ NDAQ opened at $94.68 on Friday. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $54.33 billion, a PE ratio of 36.42, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The firm's fifty day simple moving average is $90.82 and its 200-day simple moving average is $82.37.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates 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 business posted $0.69 earnings per share. Nasdaq's revenue for the quarter 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 fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Nasdaq's dividend payout ratio is 41.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Morgan Stanley boosted their target price on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. UBS Group raised Nasdaq from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

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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