Nasdaq, Inc. $NDAQ Shares Sold by Man Group plc

Man Group plc reduced its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 28.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,191,561 shares of the financial services provider’s stock after selling 477,502 shares during the quarter. Man Group plc’s holdings in Nasdaq were worth $115,736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NDAQ. SOA Wealth Advisors LLC. acquired a new stake in shares of Nasdaq during the fourth quarter worth $34,000. Nemes Rush Group LLC acquired a new stake in shares of Nasdaq during the fourth quarter worth $35,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Nasdaq during the fourth quarter worth $37,000. Elyxium Wealth LLC acquired a new position in Nasdaq during the fourth quarter valued at $44,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Nasdaq during the fourth quarter valued at $44,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NDAQ has been the subject of a number of research reports. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $109.00 price objective on shares of Nasdaq in a report on Wednesday, February 25th. Finally, Barclays lifted their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.36.

Key Nasdaq News

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq continues to post solid underlying fundamentals, with recent earnings beating estimates and revenue growth remaining strong, while analysts still have a generally constructive view on the stock. NDAQ Outperforms Industry, Trades at a Premium: How to Play the Stock
• Positive Sentiment: Nasdaq shareholders approved the board, pay package, and auditor slate, reducing near-term governance uncertainty. Nasdaq Shareholders Endorse Board, Pay and Auditor Slate
• Positive Sentiment: A major shareholder, AB Investor, bought additional NDAQ shares, which can be read as a vote of confidence in the company’s longer-term outlook. Nasdaq (NASDAQ:NDAQ) Major Shareholder Ab Investor Acquires 56,782 Shares
• Neutral Sentiment: Nasdaq rebalanced the Nasdaq 100, adding five new AI and space-related entrants; this is notable for index composition but not necessarily a direct earnings driver today. Nasdaq (NDAQ) Rebalances The Nasdaq 100 With 5 New AI And Space Entrants
• Negative Sentiment: Investors appear concerned that tokenized-stock and blockchain-based trading could increase competition for traditional exchanges, weighing on Nasdaq and other market-structure names. Nasdaq Slides as Tokenized-Stock Shakeup Clouds Exchange Outlook
• Negative Sentiment: Separate delisting notices for Smart Digital Group and QMMM highlight Nasdaq’s regulatory enforcement activity, but they are more likely a reminder of exchange oversight than a direct driver of NDAQ’s business outlook. Smart Digital Group Limited Notified of Anticipated Delisting from The Nasdaq Stock Market QMMM Holdings Limited Notified of Anticipated Delisting from The Nasdaq Stock Market

Nasdaq Stock Down 6.7%

NDAQ stock opened at $83.29 on Thursday. The stock has a market capitalization of $47.10 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.78 and a beta of 0.97. The firm has a 50-day simple moving average of $88.92 and a 200-day simple moving average of $90.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 52 week low of $77.09 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. Equities analysts forecast that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.31 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq’s dividend payout ratio is presently 37.35%.

Insider Buying and Selling at Nasdaq

In other news, insider Cohen Tal sold 15,518 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the sale, the insider owned 215,208 shares of the company’s stock, valued at $19,530,126. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adena T. Friedman sold 113,611 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the sale, the chief executive officer directly owned 1,965,751 shares of the company’s stock, valued at $167,953,765.44. This represents a 5.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 138,162 shares of company stock valued at $11,932,913. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Profile

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.