Seven Grand Managers LLC Sells 200,000 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Seven Grand Managers LLC trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the financial services provider's stock after selling 200,000 shares during the quarter. Nasdaq makes up approximately 10.6% of Seven Grand Managers LLC's portfolio, making the stock its largest position. Seven Grand Managers LLC owned approximately 0.05% of Nasdaq worth $23,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. Rakuten Securities Inc. purchased a new stake in Nasdaq in the 4th quarter worth about $26,000. Kestra Investment Management LLC acquired a new position in shares of Nasdaq in the 4th quarter valued at about $33,000. Raleigh Capital Management Inc. lifted its position in shares of Nasdaq by 106.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider's stock worth $34,000 after purchasing an additional 225 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Nasdaq in the fourth quarter worth approximately $37,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Nasdaq during the fourth quarter worth approximately $41,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NDAQ shares. Bank of America boosted their price objective on shares of Nasdaq from $103.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Oppenheimer lowered their price target on shares of Nasdaq from $89.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Barclays dropped their price target on shares of Nasdaq from $86.00 to $84.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, Morgan Stanley downgraded Nasdaq from an "overweight" rating to an "equal weight" rating and set a $74.00 target price on the stock. in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.50.

Nasdaq Stock Up 0.3%

NDAQ opened at $81.28 on Friday. The firm has a market cap of $46.66 billion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 0.99. The business has a 50 day moving average price of $74.81 and a 200 day moving average price of $77.88. Nasdaq, Inc. has a twelve month low of $58.28 and a twelve month high of $84.15.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.27 per share. This is a positive change from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date is Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a yield of 1.33%. Nasdaq's payout ratio is currently 49.09%.

Insiders Place Their Bets

In related news, EVP Sarah Youngwood sold 14,959 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the completion of the transaction, the executive vice president now owns 59,694 shares of the company's stock, valued at approximately $4,398,253.92. The trade was a 20.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan Everard Smith sold 657 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $71.81, for a total value of $47,179.17. Following the sale, the executive vice president now owns 61,980 shares of the company's stock, valued at approximately $4,450,783.80. The trade was a 1.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Nasdaq Company Profile

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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