Nasdaq, Inc. $NDAQ Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. cut its Nasdaq stake by 14.1% in the second quarter, selling 64,497 shares and ending with 391,614 shares valued at approximately $30.9 million. Institutional investors collectively own 72.47% of NDAQ.
• Nasdaq reported quarterly EPS of $1.07, beating estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. Analysts maintain a “Buy” consensus with an average price target of $110.30, compared with the stock’s $99.31 opening price.
• The company declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a 1.2% yield, payable September 25 to shareholders of record as of September 11.

Benjamin Edwards Inc. trimmed its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 14.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 391,614 shares of the financial services provider's stock after selling 64,497 shares during the period. Benjamin Edwards Inc. owned approximately 0.07% of Nasdaq worth $30,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NDAQ. Flputnam Investment Management Co. lifted its holdings in Nasdaq by 1.6% during the 2nd quarter. Flputnam Investment Management Co. now owns 27,254 shares of the financial services provider's stock worth $2,148,000 after buying an additional 420 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Nasdaq by 1.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 73,162 shares of the financial services provider's stock worth $5,767,000 after acquiring an additional 1,304 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Nasdaq by 4.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,884,101 shares of the financial services provider's stock worth $306,145,000 after buying an additional 177,114 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in Nasdaq by 7.2% in the second quarter. New Mexico Educational Retirement Board now owns 22,384 shares of the financial services provider's stock valued at $1,764,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Mufg Securities Americas Inc. grew its stake in Nasdaq by 8.3% during the 2nd quarter. Mufg Securities Americas Inc. now owns 13,457 shares of the financial services provider's stock worth $1,061,000 after buying an additional 1,031 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Trading Down 0.0%

Shares of NASDAQ:NDAQ opened at $99.31 on Friday. The company has a 50 day moving average of $91.20 and a 200-day moving average of $88.40. The firm has a market cap of $55.51 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.32 and a beta of 0.97. Nasdaq, Inc. has a twelve month low of $76.55 and a twelve month high of $101.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. As a group, analysts anticipate that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. Nasdaq's payout ratio is 36.15%.

Insider Buying and Selling

In other news, insider Pc Nelson Griggs sold 11,010 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ab Investor purchased 56,782 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the transaction, the insider owned 58,439,208 shares of the company's stock, valued at $5,024,603,103.84. The trade was a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 41,797 shares of company stock worth $3,926,319. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays restated an "overweight" rating and set a $111.00 price target (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. TD Cowen reiterated a "buy" rating and issued a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research note on Thursday, June 11th. Raymond James Financial reissued an "outperform" rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Finally, Zacks Research upgraded Nasdaq from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Nasdaq presently has an average rating of "Buy" and an average target price of $110.30.

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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