Nasdaq (NASDAQ:NDAQ) Insider Pc Nelson Griggs Sells 6,777 Shares

Key Points

• Nasdaq insider Pc Nelson Griggs sold 6,777 shares at an average price of $92.53, worth approximately $627,076, reducing their ownership by 2.9%. Griggs also sold 11,010 additional shares the following Monday.
• Nasdaq shares rose to $95.96, while the company reported quarterly EPS of $1.07, beating estimates of $0.98. Revenue reached $2.53 billion, up 14.9% year over year.
• The company declared a quarterly dividend of $0.31 per share, representing a $1.24 annualized 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) insider Pc Nelson Griggs sold 6,777 shares of Nasdaq stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.53, for a total value of $627,075.81. Following the completion of the transaction, the insider owned 227,021 shares of the company's stock, valued at approximately $21,006,253.13. The trade was a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pc Nelson Griggs also recently made the following trade(s):

• On Monday, July 27th, Pc Nelson Griggs sold 11,010 shares of Nasdaq stock. The shares were sold at an average price of $93.96, for a total value of $1,034,499.60.

Nasdaq Stock Performance

Shares of Nasdaq stock traded up $2.02 on Tuesday, reaching $95.96. 4,138,435 shares of the company were exchanged, compared to its average volume of 4,098,726. The firm has a market cap of $53.64 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.43 and a beta of 0.99. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. 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's 50-day moving average is $87.46 and its two-hundred day moving average is $88.40.

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 analysts' consensus estimates of $0.98 by $0.09. The business had revenue of $2.53 billion during 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 business's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. As a group, research analysts expect that Nasdaq, Inc. will post 4.03 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq's payout ratio is 36.15%.

Analysts Set New Price Targets

NDAQ has been the topic of a number of analyst reports. Wall Street Zen raised shares of Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Nasdaq in a research note on Monday, July 20th. TD Cowen restated a "buy" rating and issued a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Raymond James Financial restated an "outperform" rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $120.00 price objective on shares of Nasdaq in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $109.73.

Institutional Investors Weigh In On Nasdaq

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

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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