Kera Capital Partners Inc. reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 93.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,457 shares of the financial services provider’s stock after selling 35,449 shares during the period. Kera Capital Partners Inc.’s holdings in Nasdaq were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in NDAQ. Norges Bank acquired a new stake in Nasdaq in the fourth quarter worth approximately $530,100,000. Morgan Stanley increased its position in shares of Nasdaq by 62.6% during the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock valued at $900,061,000 after purchasing an additional 3,567,843 shares during the period. Nuveen LLC increased its position in shares of Nasdaq by 82.0% during the 4th quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider’s stock valued at $589,897,000 after purchasing an additional 2,736,322 shares during the period. Harris Associates L P raised its stake in shares of Nasdaq by 46.0% in the 4th quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider’s stock worth $837,425,000 after buying an additional 2,716,280 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Nasdaq by 7.7% in the 3rd quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock worth $1,735,318,000 after buying an additional 1,404,348 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Barclays cut their price target on shares of Nasdaq from $114.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. TD Cowen reaffirmed a “buy” rating and issued a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research note on Monday. Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Loop Capital set a $113.00 target price on shares of Nasdaq in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Nasdaq currently has a consensus rating of “Buy” and a consensus target price of $108.00.
Nasdaq Trading Down 1.8%
Shares of NASDAQ NDAQ opened at $90.24 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The company has a market cap of $51.03 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.47 and a beta of 0.99. The business has a fifty day simple moving average of $87.41 and a 200-day simple moving average of $88.58.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.Nasdaq’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. Sell-side analysts predict that Nasdaq, Inc. will post 3.92 EPS for the current year.
Nasdaq Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. Nasdaq’s payout ratio is 37.35%.
Insider Activity
In related news, SVP Michelle Lynn Daly sold 1,323 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 7,710 shares of Nasdaq stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares in the company, valued at approximately $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,551 shares of company stock valued at $2,225,990. 0.60% of the stock is currently owned by insiders.
Nasdaq Profile
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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