Danske Bank A S Invests $27.01 Million in Nasdaq, Inc. $NDAQ

Danske Bank A S acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 342,632 shares of the financial services provider’s stock, valued at approximately $27,006,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Nasdaq during the 2nd quarter valued at approximately $2,931,637,000. Norges Bank bought a new stake in shares of Nasdaq in the 4th quarter worth approximately $530,100,000. Morgan Stanley grew its position in shares of Nasdaq by 62.6% in the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after buying an additional 3,567,843 shares during the last quarter. Nuveen LLC increased its stake in shares of Nasdaq by 82.0% during the fourth quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider’s stock valued at $589,897,000 after buying an additional 2,736,322 shares during the period. Finally, Harris Associates L P increased its stake in shares of Nasdaq by 46.0% during the fourth quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider’s stock valued at $837,425,000 after buying an additional 2,716,280 shares during the period. 72.47% of the stock is owned by institutional investors.

Insider Activity

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ab Investor acquired 56,782 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the purchase, the insider owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 41,797 shares of company stock valued at $3,926,319 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NDAQ. Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research report on Thursday, June 11th. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price target on shares of Nasdaq in a research note on Friday, July 24th. Zacks Research upgraded shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, TD Cowen reaffirmed a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $110.30.

Nasdaq Trading Down 0.4%

Shares of NASDAQ NDAQ opened at $96.35 on Thursday. The firm’s 50 day moving average price is $89.45 and its 200-day moving average price is $87.96. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $53.86 billion, a PE ratio of 28.09, a P/E/G ratio of 1.30 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. Nasdaq’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s payout ratio is presently 36.15%.

About Nasdaq

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.