Michelle Lynn Daly Sells 1,323 Shares of Nasdaq (NASDAQ:NDAQ) Stock

Key Points

• Nasdaq SVP Michelle Lynn Daly sold 1,323 shares on April 24 at an average price of $88.82 for a total of $117,508.86, reducing her stake by 11.59% to 10,089 shares (≈$896,105).
• Nasdaq beat quarterly expectations, reporting $0.96 EPS vs. $0.93 expected and revenue of $2.14 billion (up 13.7% year-over-year), with analysts projecting $3.84 EPS for the current fiscal year.
• Dividend raised to $0.31 quarterly (annualized $1.24, ~1.4% yield), up from $0.27, with an ex-dividend date of June 12 and payment on June 26.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) SVP Michelle Lynn Daly sold 1,323 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the completion of the transaction, the senior vice president directly owned 10,089 shares in the company, valued at approximately $896,104.98. The trade was a 11.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Nasdaq Stock Up 1.0%

NASDAQ NDAQ traded up $0.88 during trading hours on Tuesday, hitting $91.31. The company's stock had a trading volume of 5,001,000 shares, compared to its average volume of 4,182,343. Nasdaq, Inc. has a 52 week low of $74.11 and a 52 week high of $101.79. The company has a market capitalization of $51.90 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The company's 50-day simple moving average is $85.87 and its two-hundred day simple moving average is $89.61.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter last year, the firm earned $0.79 EPS. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts anticipate that Nasdaq, Inc. will post 3.84 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from Nasdaq's previous quarterly dividend of $0.27. Nasdaq's payout ratio is 32.53%.

Institutional Investors Weigh In On Nasdaq

Several large investors have recently modified their holdings of NDAQ. Tripletail Wealth Management LLC purchased a new stake in shares of Nasdaq during the 3rd quarter worth approximately $27,000. Westside Investment Management Inc. increased its stake in shares of Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider's stock worth $28,000 after purchasing an additional 159 shares during the last quarter. MV Capital Management Inc. purchased a new stake in shares of Nasdaq during the 4th quarter worth approximately $28,000. West Branch Capital LLC purchased a new stake in shares of Nasdaq during the 3rd quarter worth approximately $29,000. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Nasdaq during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Analyst Ratings Changes

NDAQ has been the topic of several recent research reports. Argus raised shares of Nasdaq to a "strong-buy" rating in a research report on Wednesday, February 11th. Wall Street Zen cut shares of Nasdaq from a "hold" rating to a "sell" rating in a research report on Saturday. Royal Bank Of Canada reissued an "outperform" rating and set a $108.00 target price on shares of Nasdaq in a research report on Friday, January 30th. Keefe, Bruyette & Woods lifted their target price on shares of Nasdaq from $92.00 to $97.00 and gave the stock a "market perform" rating in a research report on Friday. Finally, Raymond James Financial reissued an "outperform" rating and set a $109.00 target price on shares of Nasdaq in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.15.

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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