Nasdaq (NASDAQ:NDAQ – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.
Several other brokerages have also recently weighed in on NDAQ. Rothschild & Co Redburn set a $110.00 price objective on shares of Nasdaq in a research note on Thursday, June 11th. Morgan Stanley restated an “overweight” rating and set a $120.00 target price on shares of Nasdaq in a research report on Friday, July 24th. Keefe, Bruyette & Woods upped their target price on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Barclays reissued an “overweight” rating and set a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.30.
Check Out Our Latest Stock Analysis on NDAQ
Nasdaq Trading Down 0.2%
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 analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts forecast that Nasdaq will post 4.15 earnings per share for the current year.
Insiders Place Their Bets
In other Nasdaq news, EVP Jeremy Skule sold 1,125 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $94.22, for a total value of $105,997.50. Following the sale, the executive vice president owned 101,198 shares in the company, valued at $9,534,875.56. The trade was a 1.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nelson Griggs sold 11,010 shares of the stock in a transaction dated 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 transaction, the insider directly owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This trade represents a 5.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,922 shares of company stock worth $4,032,316 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Nasdaq
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Nasdaq in the second quarter valued at $2,931,637,000. Geode Capital Management LLC raised its stake in 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 valued at $1,243,807,000 after purchasing an additional 378,577 shares in the last quarter. Bank of America Corp DE purchased a new stake in Nasdaq during the second quarter valued at $603,631,000. Nuveen LLC raised its stake in Nasdaq by 82.0% during the fourth 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 in the last quarter. Finally, Norges Bank bought a new position in Nasdaq during the fourth quarter valued at $530,100,000. Institutional investors own 72.47% of the company’s stock.
About Nasdaq
Nasdaq, Inc (NASDAQ:NDAQ) operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.
Nasdaq’s businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.
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