Nasdaq, Inc. $NDAQ Shares Sold by Amundi

Key Points

• Amundi reduced its Nasdaq stake by 3.1% in the second quarter, selling 91,299 shares and retaining 2.82 million shares worth approximately $222.2 million. Institutional investors and hedge funds collectively own 72.47% of NDAQ.
• Analysts remain broadly positive, with Nasdaq receiving an average “Buy” rating and an average price target of $110.30. Recent targets range from $105 to $120.
• Nasdaq reported quarterly earnings of $1.07 per share, exceeding estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. The company also declared a quarterly dividend of $0.31 per share, equal to a 1.3% annualized yield.

Amundi cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,819,091 shares of the financial services provider's stock after selling 91,299 shares during the period. Amundi owned 0.50% of Nasdaq worth $222,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. California State Teachers Retirement System increased its stake in Nasdaq by 7,824.5% in the second quarter. California State Teachers Retirement System now owns 51,567,827 shares of the financial services provider's stock valued at $4,064,576,000 after purchasing an additional 50,917,084 shares during the period. BlackRock Inc. acquired a new stake in shares of Nasdaq during the second quarter worth about $2,931,637,000. State Street Corp grew its holdings in shares of Nasdaq by 1.3% during the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider's stock worth $1,930,808,000 after buying an additional 259,408 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Nasdaq by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider's stock worth $1,243,807,000 after buying an additional 378,577 shares during the last quarter. Finally, Morgan Stanley increased its position in Nasdaq by 62.6% in the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock valued at $900,061,000 after acquiring an additional 3,567,843 shares during the period. 72.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on NDAQ. Morgan Stanley reaffirmed an "overweight" rating and set a $120.00 price objective on shares of Nasdaq in a research note on Friday, July 24th. Raymond James Financial reissued an "outperform" rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a report on Monday, July 20th. TD Cowen reissued a "buy" rating and issued a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Finally, Rothschild & Co Redburn set a $110.00 price objective on shares of Nasdaq in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $110.30.

Insider Activity at Nasdaq

In other Nasdaq news, insider Nelson Griggs sold 11,010 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ab Investor purchased 56,782 shares of the company's stock in a transaction dated 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 transaction, the insider owned 58,439,208 shares of the company's stock, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 41,797 shares of company stock valued at $3,926,319 in the last ninety days. Corporate insiders own 0.60% of the company's stock.

Nasdaq Stock Performance

Shares of NDAQ opened at $95.04 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a 50-day simple moving average of $93.62 and a 200-day simple moving average of $89.24. The company has a market capitalization of $53.13 billion, a PE ratio of 27.71, a P/E/G ratio of 1.69 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts predict that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq's dividend payout ratio is currently 36.15%.

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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