Tidal Investments LLC Reduces Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Tidal Investments LLC trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 31.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,258 shares of the financial services provider's stock after selling 19,277 shares during the quarter. Tidal Investments LLC's holdings in Nasdaq were worth $3,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Olstein Capital Management L.P. boosted its holdings in Nasdaq by 35.6% during the 4th quarter. Olstein Capital Management L.P. now owns 80,000 shares of the financial services provider's stock worth $6,185,000 after acquiring an additional 21,000 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in Nasdaq during the 4th quarter worth $274,000. Pacer Advisors Inc. raised its stake in shares of Nasdaq by 75.7% during the 4th quarter. Pacer Advisors Inc. now owns 53,933 shares of the financial services provider's stock worth $4,170,000 after purchasing an additional 23,244 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Nasdaq by 892.3% during the 4th quarter. Teacher Retirement System of Texas now owns 60,647 shares of the financial services provider's stock worth $4,689,000 after purchasing an additional 54,535 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nasdaq by 26.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,173 shares of the financial services provider's stock worth $3,454,000 after purchasing an additional 9,130 shares during the period. 72.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of a number of recent analyst reports. Bank of America lifted their target price on Nasdaq from $103.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their target price on Nasdaq from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $95.00 target price on shares of Nasdaq in a research note on Thursday, April 10th. Wall Street Zen upgraded Nasdaq from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Oppenheimer lowered their target price on Nasdaq from $89.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.50.

Nasdaq Price Performance

Shares of NDAQ stock traded up $0.91 during trading on Tuesday, hitting $82.69. The company had a trading volume of 695,409 shares, compared to its average volume of 2,927,158. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. The stock's 50-day moving average is $75.88 and its two-hundred day moving average is $78.17. The stock has a market capitalization of $47.47 billion, a price-to-earnings ratio of 43.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. Nasdaq, Inc. has a 52 week low of $58.28 and a 52 week high of $84.15.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. Nasdaq's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. As a group, analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.08 annualized dividend and a yield of 1.31%. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio is currently 49.09%.

Insiders Place Their Bets

In other Nasdaq news, EVP Bryan Everard Smith sold 657 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the sale, the executive vice president now owns 61,980 shares of the company's stock, valued at $4,450,783.80. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah Youngwood sold 14,959 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $73.68, for a total value of $1,102,179.12. Following the completion of the sale, the executive vice president now directly owns 59,694 shares of the company's stock, valued at approximately $4,398,253.92. This represents a 20.04% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

About Nasdaq

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.