Redwood Financial Network Corp Purchases New Position in Nasdaq, Inc. $NDAQ

Key Points

• Redwood Financial Network Corp has acquired a total of 2,728 shares in Nasdaq, Inc., valued at approximately $207,000, showcasing institutional interest in the company.
• Analysts have generally increased their price targets for Nasdaq, with UBS Group upgrading their rating from "neutral" to "buy" and setting a target of $115.00.
• Despite some insider selling, Nasdaq's quarterly revenue rose by 12.7% year-over-year, with a reported revenue of $1.31 billion for the last quarter.

Redwood Financial Network Corp purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,728 shares of the financial services provider's stock, valued at approximately $207,000.

Other large investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Nasdaq in the 1st quarter valued at $26,000. First Command Advisory Services Inc. purchased a new position in Nasdaq in the 1st quarter valued at about $30,000. Finally, AlphaQuest LLC purchased a new position in Nasdaq in the 1st quarter valued at about $34,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on NDAQ shares. UBS Group raised shares of Nasdaq from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Oppenheimer reissued an "outperform" rating and issued a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Morgan Stanley upped their price objective on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup reissued a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Finally, Barclays upped their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $97.06.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 2,105 shares of the 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 in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the sale, the executive vice president owned 111,035 shares in the company, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,409 shares of company stock worth $2,223,599 over the last quarter. 0.70% of the stock is owned by company insiders.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $93.48 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company's 50-day simple moving average is $93.07 and its 200-day simple moving average is $83.68. The stock has a market capitalization of $53.64 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 2.07 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping 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 business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter last year, the company posted $0.69 earnings per share. The company's quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq's dividend payout ratio is 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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