Nasdaq, Inc. $NDAQ Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 730.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 436,020 shares of the financial services provider’s stock after purchasing an additional 383,543 shares during the quarter. NewEdge Advisors LLC owned about 0.08% of Nasdaq worth $34,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fiduciary Financial Advisors purchased a new stake in shares of Nasdaq during the 2nd quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in Nasdaq in the 4th quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in Nasdaq in the 4th quarter worth approximately $35,000. Uniplan Investment Counsel Inc. acquired a new stake in Nasdaq in the fourth quarter valued at approximately $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Nasdaq in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Performance

NDAQ stock opened at $94.22 on Thursday. The stock’s 50 day simple moving average is $93.85 and its 200 day simple moving average is $89.33. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79. The firm has a market cap of $52.67 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.65 and a beta of 0.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

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

Nasdaq Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NDAQ shares. TD Cowen reissued a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price target on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Finally, Barclays reissued an “overweight” rating and issued a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $110.30.

Insider Activity

In other Nasdaq news, insider Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the transaction, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bradley Peterson sold 13,000 shares of Nasdaq stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the transaction, the executive vice president owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,797 shares of company stock valued at $3,926,319 over the last ninety days. Company insiders own 0.60% of the company’s stock.

About Nasdaq

Nasdaq, Inc (NASDAQ:NDAQ) operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.

Nasdaq’s businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.