Voloridge Investment Management LLC Sells 553,185 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Voloridge Investment Management LLC lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 69.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,125 shares of the financial services provider's stock after selling 553,185 shares during the quarter. Voloridge Investment Management LLC's holdings in Nasdaq were worth $18,487,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new stake in shares of Nasdaq in the 4th quarter valued at $26,000. Kestra Investment Management LLC bought a new stake in shares of Nasdaq in the 4th quarter valued at $33,000. Raleigh Capital Management Inc. increased its stake in shares of Nasdaq by 106.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 225 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Nasdaq in the 4th quarter valued at $37,000. Finally, TCTC Holdings LLC bought a new stake in shares of Nasdaq in the 4th quarter valued at $41,000. Institutional investors own 72.47% of the company's stock.

Nasdaq Trading Down 0.5%

Shares of NASDAQ:NDAQ traded down $0.40 during trading on Wednesday, reaching $82.66. 589,140 shares of the company traded hands, compared to its average volume of 2,930,276. The firm has a market capitalization of $47.46 billion, a price-to-earnings ratio of 43.06, a P/E/G 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. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The business's fifty day moving average is $76.01 and its 200-day moving average is $78.20.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NDAQ shares. Morgan Stanley downgraded shares of Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 price target for the company. in a research report on Tuesday, April 8th. Bank of America lifted their price target on shares of Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. UBS Group reissued a "cautious" rating on shares of Nasdaq in a research report on Monday, April 28th. Keefe, Bruyette & Woods lifted their price target on shares of Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, Citigroup reduced their price target on shares of Nasdaq from $84.00 to $75.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $86.50.

Insider Buying and Selling

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

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.