Nasdaq (NASDAQ:NDAQ) EVP Sells $105,896.25 in Stock

Key Points

• Nasdaq EVP Jeremy Skule sold 1,125 shares at an average price of $94.13, generating $105,896.25. He retained 97,686 shares worth approximately $9.2 million, following similar sales in September.
• Nasdaq shares fell 1.6% to $91.96, while the company reported quarterly earnings of $1.07 per share, exceeding estimates, and revenue rose 14.9% year over year to $2.53 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $108.83, compared with the stock’s recent trading price.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) EVP Jeremy Skule sold 1,125 shares of Nasdaq stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $94.13, for a total value of $105,896.25. Following the sale, the executive vice president directly owned 97,686 shares in the company, valued at approximately $9,195,183.18. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Jeremy Skule also recently made the following trade(s):

• On Tuesday, September 22nd, Jeremy Skule sold 1,125 shares of Nasdaq stock. The stock was sold at an average price of $95.00, for a total value of $106,875.00.
• On Thursday, September 10th, Jeremy Skule sold 1,125 shares of Nasdaq stock. The shares were sold at an average price of $94.22, for a total value of $105,997.50.

Nasdaq Stock Down 1.6%

Shares of NDAQ traded down $1.52 on Wednesday, reaching $91.96. The stock had a trading volume of 3,491,655 shares, compared to its average volume of 3,795,025. The firm has a market capitalization of $51.40 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50-day simple moving average of $94.77 and a 200-day simple moving average of $90.45. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.09. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%. The firm's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. Sell-side analysts predict that Nasdaq, Inc. will post 4.13 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, September 11th. Nasdaq's payout ratio is 36.15%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Nasdaq during the 2nd quarter valued at approximately $2,931,637,000. Bank of America Corp DE purchased a new stake in shares of Nasdaq during the second quarter valued at $603,631,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Nasdaq during the second quarter valued at $377,818,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Nasdaq by 4.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,884,101 shares of the financial services provider's stock valued at $306,145,000 after buying an additional 177,114 shares during the last quarter. Finally, Amundi increased its position in shares of Nasdaq by 19.6% in the 1st quarter. Amundi now owns 2,910,390 shares of the financial services provider's stock valued at $247,063,000 after acquiring an additional 476,913 shares during the period. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NDAQ shares. Argus increased their price target on shares of Nasdaq from $103.00 to $111.00 in a research note on Wednesday, August 5th. Morgan Stanley lowered their price target on shares of Nasdaq from $120.00 to $118.00 and set an "overweight" rating for the company in a research report on Friday, October 9th. Raymond James Financial dropped their price objective on shares of Nasdaq from $119.00 to $109.00 in a research note on Friday, October 9th. Piper Sandler restated an "overweight" rating and issued a $108.00 price objective (up from $104.00) on shares of Nasdaq in a report on Friday, October 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Nasdaq from $108.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.83.

About Nasdaq

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq's business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.

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