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 $96.35, generating approximately $1.06 million. The sale reduced Griggs’ direct ownership by 5.1% to 205,001 shares, following two additional sales earlier in the week.
• Nasdaq shares fell 1.0% to $94.19 during Friday trading. The stock has a 52-week range of $76.55 to $101.79 and a market capitalization of approximately $52.65 billion.
• Nasdaq reported quarterly EPS of $1.07, beating expectations of $0.98, while revenue rose 14.9% year over year to $2.53 billion. Analysts maintain a consensus “Buy” rating with an average price target of $109.73, and the company declared a quarterly dividend of $0.31 per share.

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the transaction, the insider directly owned 205,001 shares in the company, valued at $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction of $1,034,499.60.
• On Friday, July 24th, Pc Nelson Griggs sold 6,777 shares of Nasdaq stock. The shares were sold at an average price of $92.53, for a total transaction of $627,075.81.

Nasdaq Stock Down 1.0%

Nasdaq stock traded down $0.97 during midday trading on Friday, hitting $94.19. 3,181,741 shares of the stock were exchanged, compared to its average volume of 4,090,120. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The stock has a market capitalization of $52.65 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.99. The business's 50-day moving average price is $87.74 and its 200-day moving average price is $88.32. 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 data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $0.85 EPS. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts expect that Nasdaq, Inc. will post 4.13 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. 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 dividend payout ratio is currently 36.15%.

Hedge Funds Weigh In On Nasdaq

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in 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 valued at $277,329,000 after acquiring an additional 45,783 shares during the period. M&T Bank Corp boosted its holdings in shares of Nasdaq by 27.5% in the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider's stock worth $5,933,000 after acquiring an additional 13,160 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Nasdaq in the fourth quarter valued at $1,245,000. MKP Capital Management L.L.C. purchased a new position in shares of Nasdaq in the fourth quarter valued at $33,996,000. Finally, Advisors Preferred LLC bought a new stake in shares of Nasdaq during the 4th quarter valued at $4,872,000. 72.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NDAQ. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a report on Thursday, June 11th. Morgan Stanley restated an "overweight" rating and issued a $120.00 price objective on shares of Nasdaq in a research note on Friday, July 24th. Loop Capital set a $113.00 target price on Nasdaq in a research note on Friday, April 24th. Raymond James Financial reissued an "outperform" rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Nasdaq in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $109.73.

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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