Pallas Capital Advisors LLC Takes $498,000 Position in Nasdaq, Inc. $NDAQ

Key Points

• Pallas Capital Advisors LLC acquired a new stake in Nasdaq, Inc., purchasing 5,571 shares valued at approximately $498,000.
• Insider trading activity saw EVP Jeremy Skule and EVP Bradley J. Peterson sell significant amounts of stock, resulting in decreases of 2.22% and 9.39% in their respective holdings.
• Nasdaq reported earnings of $0.85 EPS for the last quarter, surpassing analysts' expectations, and announced a $0.27 quarterly dividend payable to investors on September 26th.

Pallas Capital Advisors LLC purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,571 shares of the financial services provider's stock, valued at approximately $498,000.

Other large investors have also recently bought and sold shares of the company. Vident Advisory LLC increased its position in shares of Nasdaq by 11.0% in the fourth quarter. Vident Advisory LLC now owns 5,227 shares of the financial services provider's stock worth $404,000 after acquiring an additional 517 shares in the last quarter. Woodline Partners LP acquired a new stake in Nasdaq in the fourth quarter valued at approximately $1,921,000. Vise Technologies Inc. acquired a new stake in shares of Nasdaq in the fourth quarter worth $209,000. Toronto Dominion Bank increased its position in Nasdaq by 7.9% during the fourth quarter. Toronto Dominion Bank now owns 223,793 shares of the financial services provider's stock worth $17,301,000 after acquiring an additional 16,471 shares during the period. Finally, Mackenzie Financial Corp increased its position in Nasdaq by 439.0% during the fourth quarter. Mackenzie Financial Corp now owns 193,878 shares of the financial services provider's stock worth $14,989,000 after acquiring an additional 157,905 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Trading Down 1.8%

Nasdaq stock traded down $1.59 during trading hours on Tuesday, reaching $88.34. 1,492,927 shares of the company's stock traded hands, compared to its average volume of 3,351,634. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $50.69 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 1.96 and a beta of 1.02. The firm's 50 day moving average is $93.77 and its 200-day moving average is $84.72. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping 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%.Nasdaq's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. On average, analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued 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 dividend yield of 1.2%. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

Insider Activity at Nasdaq

In related news, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction that occurred 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 directly owned 111,035 shares in the company, valued at $9,867,680.45. This represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,409 shares of company stock valued at $2,223,599 over the last quarter. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NDAQ. Barclays upped their target price on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Piper Sandler upped their target price on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, UBS Group raised shares of Nasdaq from a "neutral" rating to a "buy" rating and upped their target price for the stock from $95.00 to $115.00 in a report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

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.