Stablepoint Partners LLC Reduces Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Stablepoint Partners LLC reduced its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,906 shares of the financial services provider’s stock after selling 1,371 shares during the quarter. Stablepoint Partners LLC’s holdings in Nasdaq were worth $903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NDAQ. Rakuten Securities Inc. bought a new stake in Nasdaq during the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC purchased a new position in shares of Nasdaq during the 4th quarter worth $33,000. Kapitalo Investimentos Ltda bought a new stake in shares of Nasdaq during the 4th quarter valued at $37,000. TCTC Holdings LLC purchased a new stake in shares of Nasdaq in the 4th quarter worth $41,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Nasdaq in the 4th quarter worth $43,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Bryan Everard Smith sold 657 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the completion of the sale, the executive vice president now directly owns 61,980 shares of the company’s stock, valued at $4,450,783.80. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pc Nelson Griggs sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total value of $664,240.00. Following the transaction, the insider now directly owns 211,405 shares in the company, valued at approximately $17,552,957.15. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,616 shares of company stock valued at $1,813,598 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on NDAQ. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Nasdaq in a report on Thursday, April 10th. Piper Sandler boosted their price objective on Nasdaq from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Citigroup decreased their target price on shares of Nasdaq from $84.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Bank of America lifted their price target on shares of Nasdaq from $103.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. Finally, Barclays dropped their price target on shares of Nasdaq from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Nasdaq Trading Up 1.9%

Shares of NDAQ stock opened at $85.61 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $49.15 billion, a price-to-earnings ratio of 44.59, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. Nasdaq, Inc. has a 12-month low of $58.28 and a 12-month high of $85.72. The stock’s 50-day moving average price is $77.19 and its 200-day moving average price is $78.46.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, June 13th. This represents a $1.08 annualized dividend and a yield of 1.26%. This is a positive change from Nasdaq’s previous quarterly dividend of $0.24. Nasdaq’s dividend payout ratio (DPR) is 49.09%.

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.