Nasdaq, Inc. (NASDAQ:NDAQ) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 16.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,478 shares of the financial services provider’s stock after selling 1,725 shares during the quarter. Pitcairn Co.’s holdings in Nasdaq were worth $619,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EntryPoint Capital LLC raised its position in Nasdaq by 6,408.3% in the 1st quarter. EntryPoint Capital LLC now owns 781 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 769 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Nasdaq in the first quarter valued at $352,000. LRI Investments LLC purchased a new stake in shares of Nasdaq in the first quarter valued at about $31,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Nasdaq by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock worth $32,624,000 after buying an additional 57,900 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Nasdaq by 108.5% during the first quarter. Janus Henderson Group PLC now owns 124,697 shares of the financial services provider’s stock worth $7,863,000 after buying an additional 64,886 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

NDAQ opened at $81.52 on Tuesday. The stock’s 50 day simple moving average is $75.27 and its 200 day simple moving average is $68.30. The stock has a market cap of $46.85 billion, a P/E ratio of 48.81, a P/E/G ratio of 3.16 and a beta of 0.95. Nasdaq, Inc. has a 1-year low of $53.62 and a 1-year high of $82.39. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. Nasdaq’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, equities analysts anticipate that Nasdaq, Inc. will post 2.79 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s payout ratio is currently 57.49%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NDAQ shares. Argus increased their price objective on Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler increased their price target on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Raymond James raised shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective on the stock in a research note on Monday, October 14th. William Blair started coverage on shares of Nasdaq in a research note on Monday. They issued an “outperform” rating for the company. Finally, UBS Group boosted their price target on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 12,075 shares of Nasdaq stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the completion of the sale, the executive vice president now owns 102,505 shares in the company, valued at approximately $8,072,268.75. This trade represents a 10.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley J. Peterson sold 13,642 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now owns 142,830 shares in the company, valued at approximately $10,757,955.60. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,459 shares of company stock worth $3,811,808. Insiders own 0.70% of the company’s stock.

Nasdaq Company Profile

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.