Quantitative Investment Management LLC Sells 3,489 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Quantitative Investment Management LLC reduced its holdings in Nasdaq, Inc. by 36.8% in the first quarter, leaving it with 6,004 shares valued at approximately $455,000.
• Institutional investors like Vanguard Group and Massachusetts Financial Services have added to their stakes in Nasdaq, with Vanguard increasing its ownership by 0.8% to over $4 billion.
• Nasdaq reported $1.31 billion in revenue for the quarter and an earnings per share of $0.85, beating analysts' expectations and showing a 12.7% year-over-year increase in revenue.

Quantitative Investment Management LLC lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 36.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,004 shares of the financial services provider's stock after selling 3,489 shares during the period. Quantitative Investment Management LLC's holdings in Nasdaq were worth $455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NDAQ. Grove Bank & Trust boosted its holdings in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after buying an additional 216 shares in the last quarter. Highline Wealth Partners LLC boosted its position in shares of Nasdaq by 1,509.5% during the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock worth $26,000 after purchasing an additional 317 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the 1st quarter valued at about $26,000. First Command Advisory Services Inc. bought a new stake in Nasdaq in the 1st quarter valued at about $30,000. Finally, AlphaQuest LLC bought a new stake in Nasdaq in the 1st quarter valued at about $34,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Stock Down 0.5%

Shares of Nasdaq stock traded down $0.50 on Friday, hitting $94.74. The company had a trading volume of 1,742,320 shares, compared to its average volume of 3,255,397. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. 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 stock has a market capitalization of $54.36 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 2.08 and a beta of 1.00. The stock has a 50 day moving average of $92.31 and a 200-day moving average of $83.13.

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

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given 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 dividend yield of 1.1%. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NDAQ shares. Barclays increased their price target on Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Oppenheimer reaffirmed an "outperform" rating and set a $101.00 target price (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Piper Sandler upped 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. Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Finally, UBS Group raised 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 research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

Insider Transactions at Nasdaq

In other news, EVP Bradley J. Peterson sold 11,508 shares of the business'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 transaction, the executive vice president owned 111,035 shares in the company, valued at $9,867,680.45. The trade was a 9.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the 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 sale, the executive vice president directly 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 disclosure for this sale can be found here. Insiders have sold 24,409 shares of company stock worth $2,223,599 in the last 90 days. 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.