Nasdaq, Inc. $NDAQ Shares Purchased by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management boosted its Nasdaq stake by 52.2% in the fourth quarter, buying an additional 285,606 shares and bringing its total to 833,095 shares worth about $80.9 million.
• Nasdaq posted strong quarterly results, with EPS of $0.96 beating estimates and revenue of $2.14 billion topping expectations; revenue also rose 13.7% year over year.
• The company raised its quarterly dividend to $0.31 per share from $0.27, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average target price of $107.36.

Rockefeller Capital Management L.P. increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 52.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 833,095 shares of the financial services provider's stock after buying an additional 285,606 shares during the quarter. Rockefeller Capital Management L.P. owned 0.15% of Nasdaq worth $80,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Nasdaq by 3.8% during the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider's stock worth $1,106,000 after acquiring an additional 538 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Nasdaq by 40.7% during the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider's stock valued at $2,652,000 after acquiring an additional 10,110 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Nasdaq by 22.0% during the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider's stock valued at $1,089,000 after acquiring an additional 2,584 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Nasdaq by 345.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 463 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Nasdaq by 4.4% in the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider's stock valued at $1,018,000 after purchasing an additional 481 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of Nasdaq from $115.00 to $116.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a report on Wednesday, April 22nd. Loop Capital set a $113.00 price objective on shares of Nasdaq in a research note on Friday, April 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research note on Friday, April 24th. Finally, TD Cowen raised shares of Nasdaq from a "hold" rating to a "buy" rating and boosted their price objective for the company from $105.00 to $106.00 in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.36.

Insider Activity

In other Nasdaq news, major shareholder Ab Investor bought 56,782 shares of Nasdaq stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the acquisition, the insider directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares of the company's stock, valued at $12,808,798.70. This represents a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 138,162 shares of company stock valued at $11,932,913 over the last quarter. Insiders own 0.60% of the company's stock.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $82.24 on Friday. The business's 50 day moving average price is $88.72 and its 200 day moving average price is $89.95. The firm has a market cap of $46.51 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.64 and a beta of 0.97. Nasdaq, Inc. has a 52 week low of $77.09 and a 52 week high of $101.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company earned $0.79 EPS. Nasdaq's quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.31 dividend. The ex-dividend date is Friday, June 12th. This is an increase from Nasdaq's previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Nasdaq's dividend payout ratio (DPR) is currently 37.35%.

Nasdaq Profile

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.

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