Thematics Asset Management Decreases Stake in Nasdaq, Inc. $NDAQ

Key Points

• Thematics Asset Management reduced its stake in Nasdaq, Inc. by 10.3% during the first quarter, holding 103,512 shares valued at approximately $7.85 million.
• Multiple hedge funds increased their positions in Nasdaq, with Ameriprise Financial raising its stake by 37.9% and GAMMA Investing increasing its stake by an astonishing 7,367.6% in the same period.
• Wall Street analysts are optimistic about Nasdaq's future, with fourteen analysts rating the stock as a Buy and an average price target of $97.06.

Thematics Asset Management reduced its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,512 shares of the financial services provider's stock after selling 11,860 shares during the quarter. Thematics Asset Management's holdings in Nasdaq were worth $7,852,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NDAQ. Nuveen LLC purchased a new stake in Nasdaq in the 1st quarter valued at about $241,614,000. Ameriprise Financial Inc. raised its stake in shares of Nasdaq by 37.9% during the fourth quarter. Ameriprise Financial Inc. now owns 6,005,047 shares of the financial services provider's stock valued at $464,676,000 after acquiring an additional 1,650,201 shares in the last quarter. Invesco Ltd. raised its stake in shares of Nasdaq by 40.8% during the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider's stock valued at $416,795,000 after acquiring an additional 1,592,057 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Nasdaq by 7,367.6% in the first quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider's stock valued at $85,671,000 after purchasing an additional 1,114,205 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Nasdaq by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider's stock worth $1,550,115,000 after purchasing an additional 993,553 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NDAQ shares. Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $103.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Citigroup reissued a "neutral" rating on shares of Nasdaq in a report on Wednesday, July 9th. Piper Sandler upped their target price on Nasdaq from $97.00 to $104.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Oppenheimer reaffirmed an "outperform" rating and set a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $96.00 price target (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and an average price target of $97.06.

Insider Buying and Selling at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated 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 represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley J. Peterson sold 11,508 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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. This trade represents a 9.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,409 shares of company stock valued at $2,223,599. 0.70% of the stock is owned by company insiders.

Nasdaq Stock Up 0.4%

NASDAQ NDAQ traded up $0.40 during trading on Thursday, hitting $95.24. The company's stock had a trading volume of 2,017,371 shares, compared to its average volume of 3,264,616. 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 $54.65 billion, a PE ratio of 36.63, a P/E/G ratio of 2.08 and a beta of 1.00. The business's 50 day simple moving average is $92.13 and its 200-day simple moving average is $83.04. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The company'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 company posted $0.69 earnings per share. On average, equities analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Nasdaq's payout ratio is presently 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.