Insider Selling: Nasdaq (NASDAQ:NDAQ) EVP Sells 13,000 Shares

Key Points

• Nasdaq EVP Bradley Peterson sold 13,000 shares at an average price of $92.61, generating approximately $1.20 million and reducing his position by 9.2% to 128,293 shares.
• Nasdaq shares rose 2.2% to $95.96, while the company reported quarterly EPS of $1.07, surpassing estimates of $0.98; revenue increased 14.9% year over year to $2.53 billion.
• The company declared a quarterly dividend of $0.31 per share, equivalent to an annualized $1.24 payout and a 1.3% yield. Analysts maintain a consensus “Buy” rating with an average price target of $109.73.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) EVP Bradley Peterson sold 13,000 shares of Nasdaq stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the transaction, the executive vice president owned 128,293 shares of the company's stock, valued at approximately $11,881,214.73. This trade represents a 9.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Nasdaq Trading Up 2.2%

Shares of NASDAQ NDAQ traded up $2.02 during midday trading on Tuesday, hitting $95.96. The company's stock had a trading volume of 4,138,435 shares, compared to its average volume of 4,098,726. The business's 50 day moving average is $87.46 and its two-hundred day moving average is $88.40. The firm has a market cap of $53.64 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. 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 data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.09. The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. As a group, equities research analysts expect that Nasdaq, Inc. will post 4.03 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. Nasdaq's dividend payout ratio (DPR) is 36.15%.

Wall Street Analyst Weigh In

NDAQ has been the subject of a number of analyst reports. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a report on Thursday, June 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nasdaq in a research note on Monday, July 20th. Morgan Stanley reissued an "overweight" rating and issued a $120.00 price target on shares of Nasdaq in a research note on Friday. Raymond James Financial restated an "outperform" rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Finally, Loop Capital set a $113.00 target price on Nasdaq in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $109.73.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. NBC Securities Inc. boosted its holdings in shares of Nasdaq by 7.8% in the fourth quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider's stock valued at $149,000 after acquiring an additional 111 shares in the last quarter. ORG Wealth Partners LLC lifted its holdings in shares of Nasdaq by 6.9% in the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 112 shares in the last quarter. Independent Advisor Alliance lifted its stake in Nasdaq by 2.6% in the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider's stock valued at $444,000 after buying an additional 117 shares in the last quarter. Quantum Portfolio Management LLC boosted its stake in shares of Nasdaq by 1.8% during the first quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider's stock valued at $606,000 after acquiring an additional 123 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Nasdaq by 1.5% during the 4th quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider's stock worth $831,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Company Profile

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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