Nasdaq, Inc. $NDAQ Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa cut its stake in Nasdaq by 20.4%, selling 109,509 shares and leaving it with 427,955 shares (about 0.07% of the company) valued at ~$41.6M, while CEO Adena Friedman sold 300,000 shares and insiders have sold a total of 506,451 shares in the past three months.
• Analysts remain broadly positive—one Strong Buy, 13 Buys and 2 Holds—with a consensus "Moderate Buy" rating and an average price target of $105.08, versus the recent share price around $88.55.
• Nasdaq recently beat expectations with Q results of $0.96 EPS (vs. $0.92) and $2.12 billion revenue (vs. $1.37 billion expected), revenue up 13.4% YoY, and it pays a $0.27 quarterly dividend (≈1.2% yield).

Lbp Am Sa lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 427,955 shares of the financial services provider's stock after selling 109,509 shares during the period. Lbp Am Sa owned about 0.07% of Nasdaq worth $41,567,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NDAQ. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nasdaq by 41.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,090 shares of the financial services provider's stock valued at $6,819,000 after purchasing an additional 22,685 shares during the period. Vanguard Group Inc. boosted its stake in shares of Nasdaq by 6.9% in the third quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider's stock valued at $5,275,902,000 after purchasing an additional 3,848,406 shares during the period. National Pension Service boosted its stake in shares of Nasdaq by 3.3% in the third quarter. National Pension Service now owns 605,551 shares of the financial services provider's stock valued at $53,561,000 after purchasing an additional 19,078 shares during the period. Cibc World Market Inc. grew its holdings in Nasdaq by 162.1% during the 3rd quarter. Cibc World Market Inc. now owns 25,447 shares of the financial services provider's stock valued at $2,251,000 after purchasing an additional 15,739 shares in the last quarter. Finally, Swedbank AB increased its stake in Nasdaq by 74.4% during the 3rd quarter. Swedbank AB now owns 82,068 shares of the financial services provider's stock worth $7,259,000 after buying an additional 35,015 shares during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NDAQ has been the topic of a number of recent analyst reports. Barclays boosted their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Morgan Stanley set a $116.00 target price on Nasdaq and gave the stock an "overweight" rating in a research report on Friday, January 30th. Raymond James Financial reiterated an "outperform" rating and issued a $109.00 price target on shares of Nasdaq in a research note on Wednesday, February 25th. UBS Group reissued a "buy" rating and issued a $120.00 price target (up from $115.00) on shares of Nasdaq in a report on Monday, January 12th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Nasdaq in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $105.08.

Nasdaq Stock Up 2.1%

Shares of Nasdaq stock opened at $88.55 on Thursday. The stock has a market capitalization of $50.34 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.79 and a beta of 1.02. Nasdaq, Inc. has a twelve month low of $69.88 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 0.70. The business's 50 day simple moving average is $84.89 and its 200-day simple moving average is $89.61.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq's payout ratio is 34.95%.

Insider Activity at Nasdaq

In related news, CEO Adena T. Friedman sold 300,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the sale, the chief executive officer owned 1,924,903 shares of the company's stock, valued at $186,542,349.73. This trade represents a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 506,451 shares of company stock worth $47,142,951 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

About Nasdaq

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.