Nasdaq (NASDAQ:NDAQ) Insider Sells $1,073,702.60 in Stock

Key Points

• Nasdaq insider Tal Cohen sold 10,390 shares at an average price of $103.34, generating $1.07 million and reducing his ownership by 4.82% to 205,076 shares.
• Nasdaq shares fell 0.3% to $104.36, while the company reported quarterly EPS of $1.04, exceeding estimates by $0.02, and revenue of $2.39 billion, up 12.6% year over year.
• The company declared a quarterly dividend of $0.31 per share, representing a $1.24 annualized payout and a 1.2% yield; analysts maintain a Moderate Buy consensus with a $113.53 average price target.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) insider Tal Cohen sold 10,390 shares of the company's stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $103.34, for a total transaction of $1,073,702.60. Following the completion of the transaction, the insider owned 205,076 shares of the company's stock, valued at $21,192,553.84. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Nasdaq Stock Down 0.3%

Shares of NDAQ stock traded down $0.36 during midday trading on Tuesday, reaching $104.36. 3,665,056 shares of the stock were exchanged, compared to its average volume of 3,785,761. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $105.45. The firm has a market cap of $57.92 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.84 and a beta of 0.99. The company's 50 day moving average is $95.02 and its two-hundred day moving average is $90.56. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its earnings results on Thursday, October 22nd. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Nasdaq had a return on equity of 19.03% and a net margin of 22.81%. The company had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the business posted $0.88 EPS. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Nasdaq, Inc. will post 4.13 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.24 annualized dividend and a yield of 1.2%. Nasdaq's dividend payout ratio (DPR) is currently 33.88%.

Hedge Funds Weigh In On Nasdaq

Hedge funds have recently bought and sold shares of the company. Eastern Bank increased its stake in Nasdaq by 168.0% during the 3rd quarter. Eastern Bank now owns 268 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Compass Wealth Management LLC purchased a new position in Nasdaq in the third quarter worth about $29,000. Fiduciary Financial Advisors bought a new position in shares of Nasdaq in the second quarter worth approximately $25,000. Center for Financial Planning Inc. bought a new position in shares of Nasdaq in the third quarter worth approximately $32,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Nasdaq in the second quarter worth approximately $37,000. Institutional investors own 72.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen reduced their target price on shares of Nasdaq from $108.00 to $107.00 and set a "buy" rating on the stock in a research report on Monday, October 12th. The Goldman Sachs Group lifted their price target on shares of Nasdaq from $109.00 to $120.00 and gave the company a "buy" rating in a research report on Friday. Weiss Ratings reissued a "buy (b)" rating on shares of Nasdaq in a research note on Friday, October 16th. Wells Fargo & Company upped their price objective on shares of Nasdaq from $100.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $118.00 target price on shares of Nasdaq in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.53.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology and market infrastructure company best known for operating the Nasdaq Stock Market, one of the world's largest electronic stock exchanges. The company provides listing services for public companies and operates trading venues for equities, options and other financial products. Its exchange business serves companies, investors and market participants in the United States, as well as through Nasdaq's Nordic and Baltic market operations.

Beyond its exchange activities, Nasdaq provides market data, analytics, indexes and technology used by exchanges, brokers, banks, asset managers and other financial institutions.

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