Michelle Lynn Daly Sells 8,691 Shares of Nasdaq, Inc. (NASDAQ:NDAQ) Stock

Key Points

• Michelle Lynn Daly, the Senior Vice President of Nasdaq, Inc., sold 8,691 shares of stock at an average price of $93.45, representing a 49.46% decrease in her ownership.
• Nasdaq, Inc. reported a quarterly earnings per share of $0.85, exceeding expectations and marking a 12.7% year-over-year revenue increase to $1.31 billion.
• The company announced a quarterly dividend of $0.27 per share, payable on September 26th, with a current yield of 1.13%.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) SVP Michelle Lynn Daly sold 8,691 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares in the company, valued at approximately $829,742.55. This represents a 49.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Nasdaq Trading Up 0.7%

NDAQ traded up $0.69 during trading on Tuesday, hitting $95.83. 3,516,786 shares of the stock were exchanged, compared to its average volume of 3,357,927. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 0.96. The firm has a 50 day simple moving average of $87.14 and a 200 day simple moving average of $80.77. The firm has a market cap of $55.02 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 2.25 and a beta of 1.01. Nasdaq, Inc. has a 1 year low of $64.33 and a 1 year high of $95.89.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The firm's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.13%. Nasdaq's dividend payout ratio is currently 41.54%.

Analyst Ratings Changes

A number of research firms recently commented on NDAQ. Raymond James Financial reissued an "outperform" rating and issued a $96.00 price target (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Redburn Atlantic raised Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, April 17th. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and increased their price target for the company from $95.00 to $115.00 in a report on Friday. Barclays lifted their price objective on shares of Nasdaq from $101.00 to $109.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Morgan Stanley increased their target price on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $96.63.

Hedge Funds Weigh In On Nasdaq

Large investors have recently added to or reduced their stakes in the company. Grove Bank & Trust grew its stake in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock worth $25,000 after acquiring an additional 216 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in Nasdaq by 72.7% during the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 120 shares during the period. Highline Wealth Partners LLC lifted its stake in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 317 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Nasdaq during the first quarter valued at $26,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Nasdaq in the 1st quarter valued at about $30,000. 72.47% of the stock is currently owned by institutional investors.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.

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