Sequoia Financial Advisors LLC Boosts Stake in Nasdaq, Inc. $NDAQ

Key Points

• Sequoia Financial Advisors LLC increased its stake in Nasdaq, Inc. by 16.8%, owning a total of 66,780 shares valued at approximately $5,971,000 after acquiring an additional 9,609 shares.
• Several hedge funds showed significant investment activity, with Grove Bank & Trust increasing its position by 194.6% and others, like Highline Wealth Partners LLC, boosting their holdings by 1,509.5%.
• Nasdaq recently reported a quarterly earnings beat, with an EPS of $0.85 compared to the expected $0.78, and a revenue increase of 12.7% year-over-year.

Sequoia Financial Advisors LLC lifted its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 16.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,780 shares of the financial services provider's stock after purchasing an additional 9,609 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Nasdaq were worth $5,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Grove Bank & Trust lifted its position in Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after buying an additional 216 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of 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 acquiring an additional 120 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Nasdaq in the first quarter worth about $26,000. Highline Wealth Partners LLC grew its holdings in Nasdaq by 1,509.5% in the first 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 during the period. Finally, First Command Advisory Services Inc. purchased a new stake in Nasdaq in the first quarter worth about $30,000. 72.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total transaction of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. This trade represents a 2.22% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Stock Performance

NDAQ stock opened at $89.39 on Tuesday. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The stock's fifty day moving average price is $92.53 and its 200-day moving average price is $86.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $51.29 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly 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. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq's payout ratio is presently 41.54%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NDAQ shares. Oppenheimer restated an "outperform" rating and set a $101.00 price target (up from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. 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 research note on Friday, July 25th. Barclays restated an "overweight" rating and issued a $108.00 price objective (down from $109.00) on shares of Nasdaq in a report on Wednesday, October 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $108.00 price objective on shares of Nasdaq in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Nasdaq presently has an average rating of "Moderate Buy" and a consensus target price of $97.50.

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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