Ethic Inc. increased its position in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,652 shares of the financial services provider’s stock after purchasing an additional 5,990 shares during the quarter. Ethic Inc.’s holdings in Nasdaq were worth $8,699,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Phoenix Financial Ltd. purchased a new position in shares of Nasdaq in the 2nd quarter valued at approximately $2,426,000. Avidian Wealth Enterprises LLC bought a new position in Nasdaq during the 2nd quarter valued at approximately $224,000. Journey Advisory Group LLC increased its position in Nasdaq by 11.5% during the 2nd quarter. Journey Advisory Group LLC now owns 11,807 shares of the financial services provider’s stock valued at $1,056,000 after buying an additional 1,219 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Nasdaq during the 2nd quarter valued at approximately $504,000. Finally, International Assets Investment Management LLC increased its position in Nasdaq by 3.8% during the 2nd quarter. International Assets Investment Management LLC now owns 8,711 shares of the financial services provider’s stock valued at $779,000 after buying an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.
Nasdaq Stock Down 3.2%
Nasdaq stock opened at $87.42 on Thursday. The firm has a market cap of $50.16 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 2.01 and a beta of 0.98. The stock has a fifty day simple moving average of $91.48 and a two-hundred day simple moving average of $86.65. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73.
Nasdaq Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq’s payout ratio is presently 41.54%.
Insider Buying and Selling at Nasdaq
In related news, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the sale, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. The trade was a 49.46% 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 Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president directly owned 92,551 shares of the company’s stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. TD Cowen raised their price objective on Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Raymond James Financial reissued an “outperform” rating and issued a $100.00 target price (up previously from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Cowen reissued a “hold” rating on shares of Nasdaq in a report on Wednesday. Finally, Piper Sandler lifted their target price on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $98.56.
Read Our Latest Report on NDAQ
Nasdaq Company Profile
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.
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