Sumitomo Mitsui Trust Group Inc. Has $102.73 Million Stake in Nasdaq, Inc. $NDAQ

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Nasdaq by 8% in Q4 and now holds 1,057,649 shares (~0.19%) valued at $102.73 million.
• CEO Adena T. Friedman sold 300,000 shares on Feb. 2 for about $29.07 million, and insiders have sold 506,451 shares (~$47.14 million) in the past 90 days, leaving insiders with 0.70% ownership.
• Analysts maintain a "Moderate Buy" consensus with an average price target of $105.08; Nasdaq recently beat EPS estimates ($0.96 vs. $0.92) and reported 13.4% year-over-year revenue growth.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,057,649 shares of the financial services provider's stock after selling 91,765 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Nasdaq worth $102,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NDAQ. Front Row Advisors LLC acquired a new stake in Nasdaq in the 2nd quarter worth about $25,000. Tripletail Wealth Management LLC acquired a new stake in Nasdaq in the 3rd quarter worth about $27,000. Westside Investment Management Inc. raised its stake in Nasdaq by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock worth $28,000 after purchasing an additional 159 shares in the last quarter. West Branch Capital LLC acquired a new stake in Nasdaq in the 3rd quarter worth about $29,000. Finally, Salomon & Ludwin LLC acquired a new stake in Nasdaq in the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Analyst Ratings Changes

NDAQ has been the subject of several analyst reports. Morgan Stanley set a $116.00 price objective on shares of Nasdaq and gave the stock an "overweight" rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods started coverage on shares of Nasdaq in a research note on Wednesday, April 8th. They issued a "market perform" rating and a $92.00 price objective for the company. Raymond James Financial restated an "outperform" rating and issued a $109.00 target price on shares of Nasdaq in a research report on Wednesday, February 25th. TD Cowen upgraded shares of Nasdaq from a "hold" rating to a "buy" rating and boosted their target price for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nasdaq from $100.00 to $101.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.08.

Insider Transactions at Nasdaq

In related news, CEO Adena T. Friedman sold 300,000 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total transaction of $29,073,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,924,903 shares in the company, valued at $186,542,349.73. This represents a 13.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 506,451 shares of company stock worth $47,142,951. 0.70% of the stock is owned by corporate insiders.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $86.15 on Tuesday. The firm has a 50 day moving average of $84.91 and a 200-day moving average of $89.63. The stock has a market capitalization of $48.97 billion, a PE ratio of 27.88, a PEG ratio of 1.72 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Nasdaq, Inc. has a 12 month low of $69.88 and a 12 month high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $2.12 billion during the quarter, compared to analysts' expectations of $1.37 billion. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. On average, equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, March 16th. Nasdaq's dividend payout ratio is currently 34.95%.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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