TD Waterhouse Canada Inc. Sells 12,809 Shares of Nasdaq, Inc. $NDAQ

Key Points

• TD Waterhouse Canada Inc. reduced its stake in Nasdaq by 10.7% in Q4, selling 12,809 shares and now holds 107,263 shares valued at about $10.42 million.
• CEO Adena T. Friedman sold 300,000 shares on Feb. 2 for roughly $29.07 million, and insiders sold a total of 506,451 shares (~$47.14 million) during the last quarter, leaving insiders with about 0.70% ownership.
• Sell-side analysts give Nasdaq a consensus Moderate Buy rating with an average price target of $106.25 after multiple recent upgrades and target increases.

TD Waterhouse Canada Inc. lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,263 shares of the financial services provider's stock after selling 12,809 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Nasdaq were worth $10,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NDAQ. Tripletail Wealth Management LLC bought a new position in Nasdaq in the third quarter worth about $27,000. Westside Investment Management Inc. lifted its stake in shares of Nasdaq by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 159 shares during the period. West Branch Capital LLC purchased a new position in shares of Nasdaq in the 3rd quarter worth about $29,000. Salomon & Ludwin LLC purchased a new position in Nasdaq in the 3rd quarter worth about $30,000. Finally, SOA Wealth Advisors LLC. bought a new position in Nasdaq during the 4th quarter valued at about $34,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of recent research reports. UBS Group reissued a "buy" rating and issued a $120.00 target price (up from $115.00) on shares of Nasdaq in a report on Monday, January 12th. JPMorgan Chase & Co. upped their price target on Nasdaq from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Argus upgraded Nasdaq to a "strong-buy" rating in a research note on Wednesday, February 11th. Royal Bank Of Canada restated an "outperform" rating and issued a $108.00 price target on shares of Nasdaq in a research note on Friday, January 30th. Finally, TD Cowen raised shares of Nasdaq from a "hold" rating to a "buy" rating and boosted their target price for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of "Moderate Buy" and an average price target of $106.25.

Nasdaq Price Performance

Shares of NDAQ stock opened at $87.78 on Tuesday. The stock has a 50 day moving average price of $85.06 and a 200 day moving average price of $89.64. Nasdaq, Inc. has a 52-week low of $69.88 and a 52-week high of $101.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $49.90 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.82 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.37 billion. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The business's revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. As a group, sell-side analysts predict that Nasdaq, Inc. will post 3.83 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 16th. Nasdaq's dividend payout ratio (DPR) is 34.95%.

Insider Activity

In other Nasdaq news, CEO Adena T. Friedman sold 300,000 shares of Nasdaq stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the transaction, the chief executive officer directly owned 1,924,903 shares of the company's stock, valued at approximately $186,542,349.73. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 506,451 shares of company stock valued at $47,142,951. Company insiders own 0.70% of the company's stock.

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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