Phoenix Financial Ltd. Buys New Shares in Nasdaq, Inc. $NDAQ

Phoenix Financial Ltd. bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,267 shares of the financial services provider's stock, valued at approximately $2,426,000.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NDAQ shares. The Goldman Sachs Group reissued a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Piper Sandler increased their target price on shares of Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Raymond James Financial reiterated an "outperform" rating and issued a $100.00 target price (up from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Nasdaq in a research note on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.50.

Nasdaq Price Performance

NDAQ stock opened at $90.33 on Wednesday. The firm's 50-day moving average price is $91.64 and its two-hundred day moving average price is $86.64. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The stock has a market capitalization of $51.83 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 1.98 and a beta of 0.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. The firm had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.29 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 earnings per share. As a group, equities analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq's payout ratio is presently 41.54%.

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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