Nasdaq, Inc. $NDAQ Shares Sold by SRN Advisors LLC

Key Points

• SRN Advisors LLC decreased its holdings in Nasdaq, Inc. by 42.1%, selling 6,688 shares during the first quarter and reducing their total ownership to 9,214 shares valued at approximately $699,000.
• Nasdaq reported $1.31 billion in revenue for the last quarter, exceeding analysts' expectations and marking a 12.7% increase compared to the previous year, along with an EPS of $0.85.
• The company announced a quarterly dividend of $0.27 per share, with a payout ratio of 41.54%, indicating a yield of 1.1% for shareholders.

SRN Advisors LLC trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 42.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,214 shares of the financial services provider's stock after selling 6,688 shares during the quarter. SRN Advisors LLC's holdings in Nasdaq were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NDAQ. Grove Bank & Trust boosted its holdings in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after buying an additional 216 shares in the last quarter. Highline Wealth Partners LLC increased its position in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Nasdaq in the 1st quarter worth approximately $26,000. First Command Advisory Services Inc. purchased a new stake in Nasdaq in the 1st quarter worth approximately $30,000. Finally, AlphaQuest LLC bought a new position in Nasdaq in the 1st quarter worth approximately $34,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,409 shares of company stock valued at $2,223,599. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and increased their target price for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Barclays raised their price objective on Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price target on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Raymond James Financial reissued an "outperform" rating and issued a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods raised their price target on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.06.

Nasdaq Price Performance

Shares of Nasdaq stock traded up $0.18 on Wednesday, reaching $93.77. The company's stock had a trading volume of 1,830,211 shares, compared to its average volume of 3,245,918. The company has a market capitalization of $53.80 billion, a P/E ratio of 36.07, a PEG ratio of 2.08 and a beta of 1.02. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63. The stock has a 50-day moving average price of $92.75 and a 200-day moving average price of $83.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. Analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq's payout ratio is 41.54%.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.