Ellevest Inc. Lowers Position in Nasdaq, Inc. $NDAQ

Ellevest Inc. cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 12.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,624 shares of the financial services provider’s stock after selling 667 shares during the quarter. Ellevest Inc.’s holdings in Nasdaq were worth $413,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC boosted its holdings in Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 120 shares during the last quarter. Access Investment Management LLC purchased a new position in Nasdaq during the 2nd quarter worth $28,000. First Command Advisory Services Inc. purchased a new position in Nasdaq during the 1st quarter worth $30,000. CVA Family Office LLC increased its stake in Nasdaq by 137.4% in the 2nd quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock valued at $33,000 after buying an additional 213 shares during the last quarter. Finally, AlphaQuest LLC purchased a new stake in Nasdaq in the 1st quarter valued at about $34,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the transaction, the executive vice president directly owned 84,974 shares in the company, valued at $7,256,779.60. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $101.00 price objective (up previously from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Morgan Stanley set a $90.00 price objective on Nasdaq and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research report on Thursday, October 9th. Finally, TD Cowen boosted their price objective on Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.67.

Nasdaq Price Performance

Nasdaq stock opened at $85.56 on Thursday. The business’s 50 day simple moving average is $89.94 and its 200 day simple moving average is $88.00. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a market cap of $48.85 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 1.79 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, December 5th. Nasdaq’s dividend payout ratio is currently 38.57%.

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.