Pc Nelson Griggs Sells 11,010 Shares of Nasdaq (NASDAQ:NDAQ) Stock

Key Points

• Nasdaq insider Pc Nelson Griggs sold 11,010 shares at an average price of $93.96, totaling approximately $1.03 million. The sale reduced his holdings by 4.85% to 216,011 shares.
• Nasdaq shares rose 2.2% to $95.96, while the company reported quarterly earnings of $1.07 per share, beating estimates by $0.09, and revenue increased 14.9% year over year to $2.53 billion.
• Nasdaq announced a quarterly dividend of $0.31 per share, representing a 1.3% annualized yield. Analysts maintain an overall “Buy” rating with a consensus price target of $109.73.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) insider Pc Nelson Griggs sold 11,010 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $93.96, for a total value of $1,034,499.60. Following the completion of the sale, the insider owned 216,011 shares of the company's stock, valued at $20,296,393.56. The trade was a 4.85% decrease in their ownership of the stock. The transaction 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 Friday, July 24th, Pc Nelson Griggs sold 6,777 shares of Nasdaq stock. The stock was sold at an average price of $92.53, for a total value of $627,075.81.

Nasdaq Trading Up 2.2%

NDAQ traded up $2.02 during midday trading on Tuesday, hitting $95.96. 4,138,435 shares of the company were exchanged, compared to its average volume of 4,098,726. The firm's 50 day moving average price is $87.46 and its 200-day moving average price is $88.40. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The firm has a market capitalization of $53.64 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.43 and a beta of 0.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business's quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Nasdaq, Inc. will post 4.03 EPS for the current fiscal year.

Nasdaq Announces Dividend

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 issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.3%. Nasdaq's dividend payout ratio is presently 36.15%.

Analysts Set New Price Targets

Several research analysts have issued reports on NDAQ shares. Wall Street Zen upgraded shares of Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Loop Capital set a $113.00 price objective on shares of Nasdaq in a research report on Friday, April 24th. TD Cowen reissued a "buy" rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Morgan Stanley restated an "overweight" rating and issued a $120.00 target price on shares of Nasdaq in a report on Friday. Finally, Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $92.00 to $102.00 and gave the company a "market perform" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $109.73.

Hedge Funds Weigh In On Nasdaq

A number of institutional investors and hedge funds have recently modified their holdings of NDAQ. Legal & General Group Plc boosted its position in shares of Nasdaq by 1.6% during the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider's stock worth $277,329,000 after purchasing an additional 45,783 shares in the last quarter. M&T Bank Corp increased its position in Nasdaq by 27.5% in the 4th quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider's stock valued at $5,933,000 after buying an additional 13,160 shares in the last quarter. AlphaCore Capital LLC bought a new stake in Nasdaq in the 4th quarter valued at about $1,245,000. Advisors Preferred LLC acquired a new position in Nasdaq during the 4th quarter worth approximately $4,872,000. Finally, MKP Capital Management L.L.C. acquired a new position in Nasdaq during the 4th quarter worth approximately $33,996,000. 72.47% of the stock is currently owned by institutional investors.

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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