Nasdaq, Inc. $NDAQ Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors reduced its Nasdaq stake by 37% in the first quarter, selling 13,166 shares and retaining 22,458 shares valued at approximately $1.91 million. Institutional investors collectively own 72.47% of NDAQ.
• 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. Analysts maintain a consensus “Buy” rating with an average price target of $110.30.
• Nasdaq declared a quarterly dividend of $0.31 per share, equivalent to an annualized $1.24 payout and a 1.3% yield. A major shareholder bought 56,782 shares, although insiders collectively sold 41,797 shares during the last quarter.

Pacer Advisors Inc. trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 37.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,458 shares of the financial services provider's stock after selling 13,166 shares during the quarter. Pacer Advisors Inc.'s holdings in Nasdaq were worth $1,906,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Lombard Odier Asset Management Europe Ltd lifted its stake in shares of Nasdaq by 31.4% in the 1st quarter. Lombard Odier Asset Management Europe Ltd now owns 47,298 shares of the financial services provider's stock valued at $4,015,000 after purchasing an additional 11,298 shares during the period. Militia Capital Management LLC acquired a new stake in Nasdaq during the first quarter valued at $555,000. Parallel Advisors LLC grew its position in Nasdaq by 58.4% during the first quarter. Parallel Advisors LLC now owns 8,747 shares of the financial services provider's stock valued at $743,000 after buying an additional 3,225 shares during the period. Carlson Capital L.P. purchased a new position in Nasdaq in the first quarter valued at $1,672,000. Finally, Glenmede Trust Co. NA increased its holdings in Nasdaq by 7.3% in the first quarter. Glenmede Trust Co. NA now owns 152,503 shares of the financial services provider's stock valued at $12,946,000 after buying an additional 10,329 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nasdaq

In other news, major shareholder Ab Investor purchased 56,782 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the purchase, the insider directly owned 58,439,208 shares of the company's stock, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Pc Nelson Griggs sold 11,010 shares of the business's stock in a transaction that occurred 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 $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,797 shares of company stock valued at $3,926,319 over the last quarter. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NDAQ. Barclays reissued an "overweight" rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Loop Capital set a $113.00 price target on Nasdaq in a research note on Friday, April 24th. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a report on Thursday, June 11th. TD Cowen reiterated a "buy" rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Nasdaq currently has an average rating of "Buy" and a consensus price target of $110.30.

Nasdaq Stock Performance

NDAQ opened at $94.59 on Friday. The firm's fifty day simple moving average is $88.12 and its two-hundred day simple moving average is $88.17. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a market cap of $52.87 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.28 and a beta of 0.97. 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 (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company's quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

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

Nasdaq Company 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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