Fairbanks Capital Management Inc. cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 43.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,209 shares of the financial services provider’s stock after selling 14,218 shares during the period. Fairbanks Capital Management Inc.’s holdings in Nasdaq were worth $1,546,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Vanguard Group Inc. raised its position in Nasdaq by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock valued at $5,819,727,000 after purchasing an additional 268,481 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Nasdaq by 4.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock worth $2,683,485,000 after buying an additional 1,258,964 shares in the last quarter. State Street Corp grew its position in shares of Nasdaq by 1.3% during the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock worth $1,930,808,000 after buying an additional 259,408 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nasdaq by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock worth $1,243,807,000 after buying an additional 378,577 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after buying an additional 3,567,843 shares during the period. 72.47% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have commented on NDAQ shares. Loop Capital set a $113.00 price target on shares of Nasdaq in a report on Friday, April 24th. Morgan Stanley reduced their price objective on shares of Nasdaq from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, July 10th. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Keefe, Bruyette & Woods increased their target price on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a report on Friday, April 24th. Finally, Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $108.00.
Nasdaq Stock Up 0.7%
NDAQ stock opened at $90.90 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a twelve month low of $76.55 and a twelve month high of $101.79. The company’s 50 day moving average is $87.42 and its two-hundred day moving average is $88.54. The stock has a market cap of $51.41 billion, a P/E ratio of 27.38, a PEG ratio of 1.44 and a beta of 0.99.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. Research analysts expect that Nasdaq, Inc. will post 3.92 earnings per share for the current fiscal year.
Insider Transactions at Nasdaq
In other news, major shareholder Ab Investor bought 56,782 shares of Nasdaq stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the acquisition, the insider owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares in the company, valued at $12,808,798.70. This represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,551 shares of company stock valued at $2,225,990 over the last quarter. Company insiders own 0.60% of the company’s stock.
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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