Metis Global Partners LLC Sells 2,786 Shares of Nasdaq, Inc. $NDAQ

Metis Global Partners LLC lowered its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,604 shares of the financial services provider’s stock after selling 2,786 shares during the period. Metis Global Partners LLC’s holdings in Nasdaq were worth $3,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NDAQ. Bruce G. Allen Investments LLC increased its holdings in shares of Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 120 shares in the last quarter. Access Investment Management LLC bought a new stake in Nasdaq during the 2nd quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new stake in Nasdaq during the 1st quarter worth approximately $30,000. CVA Family Office LLC lifted its stake in Nasdaq by 137.4% in the second quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock valued at $33,000 after buying an additional 213 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Nasdaq in the first quarter valued at approximately $34,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $87.24 on Friday. The company has a fifty day moving average price of $89.61 and a two-hundred day moving average price of $88.21. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The stock has a market cap of $49.81 billion, a P/E ratio of 31.16, a P/E/G ratio of 1.79 and a beta of 0.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given 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 dividend payout ratio is presently 38.57%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley set a $90.00 price objective on shares of Nasdaq and gave the stock an “equal weight” rating in a report on Wednesday, October 1st. UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and lifted their price target for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Piper Sandler raised their price target on shares of Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Raymond James Financial reissued an “outperform” rating and issued a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Finally, Barclays set a $109.00 target price on shares of Nasdaq and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.67.

Insider Buying and Selling at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president owned 84,974 shares in the company, valued at approximately $7,256,779.60. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

About Nasdaq

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.