ProShare Advisors LLC Sells 166 Shares of Nasdaq, Inc. (NDAQ)
ProShare Advisors LLC cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,275 shares of the financial services provider’s stock after selling 166 shares during the quarter. ProShare Advisors LLC’s holdings in Nasdaq were worth $3,737,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in shares of Nasdaq by 3.4% in the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 77 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Nasdaq in the first quarter valued at $190,000. IFP Advisors Inc grew its position in shares of Nasdaq by 9.4% in the second quarter. IFP Advisors Inc now owns 2,837 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 243 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Nasdaq in the first quarter valued at $204,000. Finally, Advisor Partners LLC purchased a new position in shares of Nasdaq in the second quarter valued at $214,000. Institutional investors own 74.37% of the company’s stock.
In other Nasdaq news, insider Edward S. Knight sold 14,629 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $76.74, for a total transaction of $1,122,629.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lars Wedenborn sold 3,045 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $76.13, for a total value of $231,815.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,844 shares of company stock worth $2,788,100. Insiders own 1.60% of the company’s stock.
Nasdaq, Inc. (NDAQ) opened at 76.42 on Friday. The company’s 50-day moving average price is $75.31 and its 200 day moving average price is $71.24. The stock has a market capitalization of $12.75 billion, a PE ratio of 58.07 and a beta of 0.77. Nasdaq, Inc. has a 52-week low of $63.30 and a 52-week high of $77.75.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. The business had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $596.55 million. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Equities analysts forecast that Nasdaq, Inc. will post $4.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.99%. Nasdaq’s dividend payout ratio is presently 118.75%.
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Several equities analysts have recently weighed in on the company. BidaskClub upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Royal Bank Of Canada set a $74.00 price target on Nasdaq and gave the company a “hold” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 price target (up from $68.00) on shares of Nasdaq in a research report on Monday, July 17th. Finally, UBS AG reiterated a “buy” rating and issued a $85.00 price target (up from $80.00) on shares of Nasdaq in a research report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.10.
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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