DNB Asset Management AS Has $7.34 Million Stock Position in Nasdaq, Inc. $NDAQ

DNB Asset Management AS lifted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,126 shares of the financial services provider’s stock after buying an additional 5,960 shares during the period. DNB Asset Management AS’s holdings in Nasdaq were worth $7,344,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NDAQ. Entropy Technologies LP acquired a new position in Nasdaq in the 2nd quarter worth about $510,000. Ensign Peak Advisors Inc raised its holdings in Nasdaq by 1.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 210,996 shares of the financial services provider’s stock valued at $18,867,000 after buying an additional 3,818 shares during the last quarter. Alteri Wealth LLC acquired a new stake in Nasdaq during the 2nd quarter worth approximately $209,000. TD Waterhouse Canada Inc. grew its holdings in Nasdaq by 87.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 115,238 shares of the financial services provider’s stock worth $10,245,000 after acquiring an additional 53,705 shares during the last quarter. Finally, Greenland Capital Management LP bought a new stake in Nasdaq during the 2nd quarter worth approximately $969,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $87.66 on Friday. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The firm has a market capitalization of $50.05 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.79 and a beta of 0.98. The business has a 50-day simple moving average of $88.14 and a 200 day simple moving average of $88.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. On average, research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, December 5th. Nasdaq’s payout ratio is 38.57%.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were 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 of the company’s stock, valued at approximately $7,256,779.60. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NDAQ. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 price target (up previously from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $97.00 to $110.00 in a report on Thursday. Barclays set a $109.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nasdaq in a research report on Tuesday, October 14th. Finally, Cowen restated a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

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.