Paralel Advisors LLC Sells 4,564 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Paralel Advisors LLC reduced its holdings in Nasdaq, Inc. by 11.5%, selling 4,564 shares, bringing their total to 35,218 shares valued at approximately $3.15 million.
• Nasdaq reported earnings of $0.88 per share for the last quarter, exceeding analyst estimates, and saw a year-over-year revenue increase of 14.7% to $1.32 billion.
• The company announced a quarterly dividend of $0.27, payable on December 19th, indicating a 1.2% dividend yield and a payout ratio of 41.54%.

Paralel Advisors LLC cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 11.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,218 shares of the financial services provider's stock after selling 4,564 shares during the period. Paralel Advisors LLC's holdings in Nasdaq were worth $3,149,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bruce G. Allen Investments LLC lifted its position in shares of Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock worth $25,000 after buying an additional 120 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Nasdaq during the 1st quarter valued at about $30,000. AlphaQuest LLC bought a new position in shares of Nasdaq in the 1st quarter valued at approximately $34,000. Bayforest Capital Ltd bought a new position in shares of Nasdaq in the 2nd quarter valued at approximately $37,000. Finally, Olde Wealth Management LLC acquired a new stake in Nasdaq in the 1st quarter worth approximately $40,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the sale, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Nasdaq Trading Down 3.2%

Shares of NDAQ opened at $87.42 on Thursday. The stock's 50-day moving average price is $91.48 and its 200 day moving average price is $86.65. 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 firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 2.01 and a beta of 0.98. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. Nasdaq had a return on equity of 16.46% and a net margin of 19.90%.The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm earned $0.74 EPS. Nasdaq's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research 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, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, December 5th. Nasdaq's payout ratio is currently 41.54%.

Wall Street Analyst Weigh In

NDAQ has been the topic of several analyst reports. Cowen reiterated a "hold" rating on shares of Nasdaq in a report on Wednesday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $95.00 to $115.00 in a report on Friday, July 25th. TD Cowen boosted their target price on shares of Nasdaq from $94.00 to $96.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price objective on Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.56.

Nasdaq Company 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.

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