Quantinno Capital Management LP lifted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 102.4% during the 1st quarter, HoldingsChannel reports. The firm owned 317,923 shares of the financial services provider’s stock after acquiring an additional 160,850 shares during the period. Quantinno Capital Management LP’s holdings in Nasdaq were worth $26,989,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in Nasdaq in the 4th quarter valued at approximately $28,000. SOA Wealth Advisors LLC. bought a new stake in shares of Nasdaq during the fourth quarter worth $34,000. Nemes Rush Group LLC bought a new stake in shares of Nasdaq during the fourth quarter worth $35,000. Uniplan Investment Counsel Inc. acquired a new position in shares of Nasdaq during the fourth quarter worth $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Nasdaq during the fourth quarter worth $37,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, major shareholder Ab Investor bought 56,782 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider directly owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Pc Nelson Griggs sold 11,010 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the transaction, the insider owned 205,001 shares in the company, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,797 shares of company stock valued at $3,926,319 over the last quarter. Insiders own 0.60% of the company’s stock.
Nasdaq Stock Performance
Nasdaq (NASDAQ:NDAQ – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. Research analysts anticipate that Nasdaq, Inc. will post 4.13 earnings per share for the current year.
Nasdaq Announces Dividend
The company 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 is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio is 36.15%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on NDAQ. TD Cowen reiterated a “buy” rating and issued a $105.00 price target (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Zacks Research raised Nasdaq from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Finally, Loop Capital set a $113.00 target price on shares of Nasdaq in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $109.73.
Read Our Latest Report on Nasdaq
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.
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