Nasdaq, Inc. (NASDAQ:NDAQ) Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Nasdaq, Inc. by 53.5%, now holding 2,806 shares valued at $213,000.
• Nasdaq reported a quarterly EPS of $0.85, exceeding estimates, with revenue of $1.31 billion, marking a 12.7% year-over-year increase.
• The company announced a quarterly dividend of $0.27 per share, translating to an annual yield of 1.1%.

Atria Wealth Solutions Inc. lowered its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 53.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,806 shares of the financial services provider's stock after selling 3,224 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Nasdaq were worth $213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Nasdaq by 37.9% in the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock worth $464,676,000 after purchasing an additional 1,650,201 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Nasdaq by 7,367.6% in the first quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider's stock worth $85,671,000 after purchasing an additional 1,114,205 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Nasdaq by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after purchasing an additional 993,553 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Nasdaq by 8,704.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 825,900 shares of the financial services provider's stock worth $63,850,000 after purchasing an additional 816,519 shares in the last quarter. Finally, Prana Capital Management LP grew its stake in shares of Nasdaq by 128.8% in the fourth quarter. Prana Capital Management LP now owns 1,351,248 shares of the financial services provider's stock worth $104,465,000 after purchasing an additional 760,711 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Down 0.8%

Shares of Nasdaq stock opened at $94.68 on Friday. The stock has a 50-day moving average price of $90.82 and a 200 day moving average price of $82.38. The company has a market cap of $54.33 billion, a P/E ratio of 36.42, a P/E/G ratio of 2.08 and a beta of 1.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. As a group, analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed 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. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio is currently 41.54%.

Insiders Place Their Bets

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares of the company's stock, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the completion of the transaction, the executive vice president directly owned 111,035 shares in the company, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,409 shares of company stock valued at $2,887,839 in the last 90 days. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NDAQ. Barclays increased their price target on Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Morgan Stanley upped their price objective on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. 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. Finally, Citigroup restated a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $97.06.

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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