Trexquant Investment LP Acquires New Shares in Nasdaq, Inc. $NDAQ

Key Points

• Trexquant Investment LP has acquired a new position in Nasdaq, purchasing 72,135 shares valued at approximately $5.47 million during the first quarter.
• Currently, institutional investors and hedge funds hold 72.47% of Nasdaq's stock, reflecting significant interest from the financial community.
• Nasdaq recently reported a quarterly earnings per share (EPS) of $0.85, exceeding analysts' expectations of $0.78, alongside a 12.7% year-over-year revenue increase.

Trexquant Investment LP acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 72,135 shares of the financial services provider's stock, valued at approximately $5,472,000.

A number of other hedge funds have also recently added to or reduced their stakes in NDAQ. Grove Bank & Trust grew its stake in Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 216 shares during the period. Highline Wealth Partners LLC grew its stake 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 valued at $26,000 after acquiring an additional 317 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Nasdaq in the first quarter valued at approximately $26,000. First Command Advisory Services Inc. acquired a new stake in Nasdaq in the first quarter valued at approximately $30,000. Finally, AlphaQuest LLC purchased a new position in shares of Nasdaq during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Performance

NDAQ stock traded up $0.53 during midday trading on Thursday, hitting $94.30. The company's stock had a trading volume of 3,693,337 shares, compared to its average volume of 3,248,660. The stock's 50-day moving average price is $92.87 and its 200 day moving average price is $83.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The stock has a market cap of $54.11 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 2.08 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio is currently 41.54%.

Insider Activity

In other news, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president owned 111,035 shares of the company's stock, valued at $9,867,680.45. This represents a 9.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the transaction, the senior vice president directly owned 8,879 shares in the company, valued at $829,742.55. This represents a 49.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,409 shares of company stock valued at $2,223,599 in the last 90 days. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NDAQ shares. Morgan Stanley lifted their target price on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their target price on Nasdaq from $95.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Nasdaq in a research report on Friday, July 25th. Keefe, Bruyette & Woods lifted their target price on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays lifted their target price on Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.06.

Nasdaq 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.