Nordea Investment Management AB Buys 7,629 Shares of Nasdaq, Inc. $NDAQ

Nordea Investment Management AB boosted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 1.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 437,226 shares of the financial services provider’s stock after purchasing an additional 7,629 shares during the quarter. Nordea Investment Management AB’s holdings in Nasdaq were worth $38,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC grew its holdings in shares of Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 120 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in Nasdaq in the first quarter valued at about $30,000. Bayforest Capital Ltd bought a new stake in Nasdaq during the second quarter worth about $37,000. AlphaQuest LLC acquired a new stake in shares of Nasdaq during the first quarter worth approximately $34,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Nasdaq in the 1st quarter worth approximately $40,000. 72.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NDAQ shares. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 price target (up from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday, October 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $101.00 price target (up from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Morgan Stanley set a $90.00 price target on shares of Nasdaq and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Piper Sandler increased their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $97.50.

Insiders Place Their Bets

In other news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president directly owned 8,879 shares of the company’s stock, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Nasdaq Trading Up 0.7%

Shares of NDAQ opened at $88.59 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The firm has a market capitalization of $50.83 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 1.98 and a beta of 0.98. The stock’s fifty day simple moving average is $91.92 and its 200-day simple moving average is $86.39.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $0.69 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, September 12th. Nasdaq’s dividend payout ratio is currently 41.54%.

About Nasdaq

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.