Nasdaq, Inc. $NDAQ Shares Sold by Twin Tree Management LP

Key Points

• Twin Tree Management LP reduced its holdings in Nasdaq, Inc. by 25.0%, now owning 12,707 shares worth approximately $964,000 after selling 4,245 shares in the first quarter.
• Several research firms have upgraded their target prices for Nasdaq, with Barclays raising it from $101.00 to $109.00, indicating a strong bullish sentiment among analysts.
• Insider trading activity saw significant sales, with SVP Michelle Lynn Daly selling 8,691 shares for over $812,000, leading to a 49.46% decrease in her ownership of the stock.

Twin Tree Management LP lessened its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 25.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,707 shares of the financial services provider's stock after selling 4,245 shares during the quarter. Twin Tree Management LP's holdings in Nasdaq were worth $964,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NDAQ. Lido Advisors LLC grew its stake in Nasdaq by 9.0% during the 4th quarter. Lido Advisors LLC now owns 3,419 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 281 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Nasdaq by 17.0% in the 4th quarter. AQR Capital Management LLC now owns 165,617 shares of the financial services provider's stock worth $12,804,000 after acquiring an additional 24,096 shares in the last quarter. Comerica Bank grew its position in shares of Nasdaq by 8.0% in the 4th quarter. Comerica Bank now owns 84,126 shares of the financial services provider's stock worth $6,504,000 after acquiring an additional 6,234 shares in the last quarter. AXA S.A. grew its position in shares of Nasdaq by 1.7% in the 4th quarter. AXA S.A. now owns 82,336 shares of the financial services provider's stock worth $6,365,000 after acquiring an additional 1,373 shares in the last quarter. Finally, Alteri Wealth LLC acquired a new position in shares of Nasdaq in the 4th quarter worth approximately $204,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Performance

Nasdaq stock traded up $0.53 during mid-day trading on Thursday, hitting $94.30. 3,693,337 shares of the company's stock traded hands, compared to its average volume of 3,248,660. The firm has a 50 day moving average price of $92.87 and a 200 day moving average price of $83.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The company has a market cap of $54.11 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. On average, equities analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.1%. Nasdaq's payout ratio is presently 41.54%.

Analysts Set New Price Targets

Several research analysts have recently commented on NDAQ shares. Royal Bank Of Canada lifted their target price on Nasdaq from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Piper Sandler lifted their target price on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Morgan Stanley lifted their target price on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.06.

Insider Buying and Selling at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the sale, the executive vice president owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. The trade was a 9.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the senior vice president owned 8,879 shares of the company's stock, 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. Insiders have sold 24,409 shares of company stock valued at $2,223,599 in the last quarter. Corporate insiders own 0.70% of the company's stock.

Nasdaq Profile

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.