Sei Investments Co. trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 56.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 540,464 shares of the financial services provider’s stock after selling 692,665 shares during the period. Sei Investments Co.’s holdings in Nasdaq were worth $45,877,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MV Capital Management Inc. bought a new position in shares of Nasdaq during the 4th quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in Nasdaq during the fourth quarter worth $34,000. Nemes Rush Group LLC purchased a new position in Nasdaq during the fourth quarter worth $35,000. Uniplan Investment Counsel Inc. bought a new position in Nasdaq during the fourth quarter valued at $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in shares of Nasdaq in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.
Insider Buying and Selling
In other Nasdaq news, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the purchase, the insider directly owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This represents a 0.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley J. Peterson sold 7,710 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 141,035 shares of the company’s stock, valued at approximately $12,808,798.70. This represents a 5.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.
Key Nasdaq News
- Positive Sentiment: Nasdaq delivered a solid Q2 beat on both earnings and revenue, with strong growth in index and FinTech driving better-than-expected results and record Market Services performance. Article Title
- Positive Sentiment: The company announced a quarterly dividend of $0.31 per share, which may appeal to income-focused investors and signals continued shareholder returns. Article Title
- Positive Sentiment: Keefe, Bruyette & Woods lifted its price target to $102, indicating improved valuation expectations even though the rating remained market perform. Article Title
- Neutral Sentiment: Nasdaq’s July short-interest report showed 0 shares short and a 0.0-day days-to-cover figure, which appears more like a data anomaly than a meaningful trading signal. Article Title
- Neutral Sentiment: The company also ended its Miami case and sold its fund secondaries business, a portfolio move that may be viewed as strategic housekeeping rather than a major earnings driver. Article Title
Wall Street Analyst Weigh In
NDAQ has been the subject of several analyst reports. Raymond James Financial restated an “outperform” rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Barclays restated an “overweight” rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a research report on Friday. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research note on Thursday, June 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Finally, Loop Capital set a $113.00 price target on Nasdaq in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $109.73.
Get Our Latest Research Report on Nasdaq
Nasdaq Price Performance
Shares of Nasdaq stock opened at $92.09 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $51.48 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.43 and a beta of 0.99. The firm’s 50-day moving average is $87.43 and its two-hundred day moving average is $88.45. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts expect that Nasdaq, Inc. will post 4.03 earnings per share for the current fiscal year.
Nasdaq Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is presently 36.15%.
Nasdaq Company 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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