Twinbeech Capital LP Sells 709,355 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Twinbeech Capital LP reduced its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 99.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,626 shares of the financial services provider's stock after selling 709,355 shares during the quarter. Twinbeech Capital LP's holdings in Nasdaq were worth $435,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NDAQ. Rakuten Securities Inc. bought a new stake in shares of Nasdaq during the fourth quarter worth about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Nasdaq during the 4th quarter worth approximately $33,000. Raleigh Capital Management Inc. grew its position in shares of Nasdaq by 106.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider's stock worth $34,000 after buying an additional 225 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Nasdaq during the 4th quarter worth approximately $37,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Nasdaq during the 4th quarter worth approximately $41,000. Institutional investors own 72.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NDAQ. Piper Sandler increased their target price on Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Oppenheimer dropped their price target on Nasdaq from $89.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Redburn Atlantic upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a research note on Thursday, April 17th. Finally, Citigroup cut their price objective on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.50.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 657 shares of Nasdaq 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 transaction, the executive vice president now directly owns 61,980 shares in the company, valued at $4,450,783.80. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sarah Youngwood sold 14,959 shares of the business'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 transaction, the executive vice president now owns 59,694 shares of the company's stock, valued at approximately $4,398,253.92. This represents a 20.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Nasdaq Stock Performance

Nasdaq stock traded down $0.37 during mid-day trading on Wednesday, reaching $82.69. 490,542 shares of the company were exchanged, compared to its average volume of 3,263,891. Nasdaq, Inc. has a twelve month low of $58.28 and a twelve month high of $84.15. The firm's 50-day simple moving average is $76.01 and its two-hundred day simple moving average is $78.20. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. The firm has a market cap of $47.48 billion, a PE ratio of 43.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results 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. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the business posted $0.63 earnings per share. Nasdaq's revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. This is a boost from Nasdaq's previous quarterly dividend of $0.24. Nasdaq's dividend payout ratio (DPR) is presently 49.09%.

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.