Zurcher Kantonalbank Zurich Cantonalbank Sells 21,980 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Zurcher Kantonalbank trimmed its Nasdaq stake by 9.6%, selling 21,980 shares and leaving it with 206,162 shares valued at about $20.03 million.
• CEO Adena T. Friedman sold 300,000 shares at an average $96.91 for roughly $29.07 million, cutting her ownership by 13.48% to 1,924,903 shares; insiders have sold 506,451 shares (~$47.14M) in the past 90 days and own 0.70% of the stock.
• Nasdaq beat quarterly estimates with $0.96 EPS (vs. $0.92) and $2.12 billion revenue (+13.4% YoY); the company has a $49.1 billion market cap, a 1.3% yield, and a consensus analyst rating of Moderate Buy with a $106.25 target.

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,162 shares of the financial services provider's stock after selling 21,980 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Nasdaq were worth $20,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in Nasdaq by 3.8% in the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider's stock worth $1,106,000 after purchasing an additional 538 shares in the last quarter. Woodline Partners LP raised its holdings in Nasdaq by 40.7% in the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider's stock worth $2,652,000 after purchasing an additional 10,110 shares in the last quarter. Focus Partners Wealth raised its holdings in Nasdaq by 22.0% in the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider's stock worth $1,089,000 after purchasing an additional 2,584 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Nasdaq by 345.5% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $45,000 after purchasing an additional 463 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in Nasdaq by 4.4% in the second quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider's stock worth $1,018,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 72.47% of the company's stock.

Insider Buying and Selling at Nasdaq

In other news, CEO Adena T. Friedman sold 300,000 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $96.91, for a total transaction of $29,073,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,924,903 shares in the company, valued at $186,542,349.73. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 506,451 shares of company stock worth $47,142,951 in the last ninety days. 0.70% of the stock is owned by company insiders.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $86.37 on Thursday. Nasdaq, Inc. has a 1-year low of $71.98 and a 1-year high of $101.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $85.28 and a 200-day moving average price of $89.61. The company has a market capitalization of $49.10 billion, a PE ratio of 27.95, a PEG ratio of 1.80 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $0.76 earnings per share. The company's revenue was up 13.4% on a year-over-year basis. As a group, equities analysts expect that Nasdaq, Inc. will post 3.83 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, March 16th. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. Nasdaq's dividend payout ratio (DPR) is presently 34.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NDAQ shares. Barclays increased their price objective on Nasdaq from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Keefe, Bruyette & Woods started coverage on Nasdaq in a report on Wednesday, April 8th. They issued a "market perform" rating and a $92.00 price objective for the company. UBS Group reiterated a "buy" rating and issued a $120.00 price objective (up from $115.00) on shares of Nasdaq in a report on Monday, January 12th. TD Cowen upgraded Nasdaq from a "hold" rating to a "buy" rating and increased their price objective for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $109.00 price objective on shares of Nasdaq in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Nasdaq currently has an average rating of "Moderate Buy" and a consensus target price of $106.25.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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