Northstar Asset Management Inc. Sells 14,422 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Northstar Asset Management reduced its Nasdaq stake by 25.1% in the second quarter, selling 14,422 shares and retaining 43,041 shares valued at approximately $3.39 million.
• 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. Institutional investors own 72.47% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $110.30, above the reported share price of $99.31. Nasdaq also announced a quarterly dividend of $0.31 per share.

Northstar Asset Management Inc. lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 25.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,041 shares of the financial services provider's stock after selling 14,422 shares during the quarter. Nasdaq accounts for 1.0% of Northstar Asset Management Inc.'s investment portfolio, making the stock its 28th biggest position. Northstar Asset Management Inc.'s holdings in Nasdaq were worth $3,393,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Nissay Asset Management Corp Japan lifted its stake in Nasdaq by 3.4% in the second quarter. Nissay Asset Management Corp Japan now owns 60,725 shares of the financial services provider's stock worth $4,786,000 after purchasing an additional 1,995 shares during the last quarter. Braun Stacey Associates Inc. grew its stake in shares of Nasdaq by 0.5% during the second quarter. Braun Stacey Associates Inc. now owns 362,842 shares of the financial services provider's stock valued at $28,599,000 after buying an additional 1,815 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Nasdaq during the second quarter valued at about $2,789,000. Kingsview Wealth Management LLC purchased a new position in shares of Nasdaq in the second quarter worth about $216,000. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Nasdaq in the second quarter worth about $365,000. 72.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the transaction, the insider directly owned 205,001 shares of the company's stock, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction on Thursday, June 11th. The shares were bought 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 in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 41,797 shares of company stock valued at $3,926,319 over the last quarter. 0.60% of the stock is owned by company insiders.

Nasdaq Stock Down 0.0%

Shares of NASDAQ:NDAQ opened at $99.31 on Friday. The stock's 50-day moving average is $91.20 and its 200 day moving average is $88.40. The company has a market cap of $55.51 billion, a PE ratio of 28.95, a P/E/G ratio of 1.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.09. The business had revenue of $2.53 billion during 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 business's revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Sell-side analysts anticipate that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NDAQ shares. Morgan Stanley reissued an "overweight" rating and issued a $120.00 target price on shares of Nasdaq in a research note on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Nasdaq in a research note on Monday, July 20th. Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research report on Sunday, May 3rd. Finally, Barclays reissued an "overweight" rating and set a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $110.30.

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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