California Public Employees Retirement System Sells 29,675 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

California Public Employees Retirement System cut its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 1.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,105,409 shares of the financial services provider's stock after selling 29,675 shares during the period. California Public Employees Retirement System owned approximately 0.36% of Nasdaq worth $122,408,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Nasdaq by 214.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider's stock valued at $305,224,000 after acquiring an additional 4,280,846 shares in the last quarter. LGT Capital Partners LTD. raised its position in shares of Nasdaq by 136.5% during the 4th quarter. LGT Capital Partners LTD. now owns 1,264,990 shares of the financial services provider's stock valued at $73,547,000 after acquiring an additional 730,200 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Nasdaq by 16.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider's stock valued at $232,564,000 after acquiring an additional 681,238 shares in the last quarter. Flossbach Von Storch AG raised its position in shares of Nasdaq by 230.9% during the 3rd quarter. Flossbach Von Storch AG now owns 795,943 shares of the financial services provider's stock valued at $38,675,000 after acquiring an additional 555,412 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Nasdaq by 34.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,070,450 shares of the financial services provider's stock valued at $100,603,000 after acquiring an additional 533,086 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nasdaq

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company's stock, valued at $3,383,809,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares of the company's stock, valued at $3,383,809,610. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bryan Everard Smith sold 7,400 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the sale, the executive vice president now directly owns 61,672 shares of the company's stock, valued at $3,879,785.52. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NDAQ. Piper Sandler upped their price target on Nasdaq from $70.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st. UBS Group upped their price objective on Nasdaq from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 24th. StockNews.com upgraded Nasdaq from a "sell" rating to a "hold" rating in a research note on Wednesday, March 27th. The Goldman Sachs Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and set a $73.00 price objective for the company in a research note on Tuesday, March 26th. Finally, Rosenblatt Securities restated a "buy" rating and set a $82.00 price objective on shares of Nasdaq in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $67.09.

Nasdaq Stock Performance

Shares of NASDAQ:NDAQ traded up $0.41 on Wednesday, hitting $61.50. The company's stock had a trading volume of 2,893,171 shares, compared to its average volume of 3,102,953. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $64.25. The company has a market capitalization of $35.38 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.80 and a beta of 0.93. The stock's 50-day moving average is $59.63 and its two-hundred day moving average is $56.32. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. The company's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities research analysts forecast that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.88 annualized dividend and a yield of 1.43%. Nasdaq's dividend payout ratio is currently 41.71%.

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.