Mitsubishi UFJ Asset Management Co. Ltd. Has $77.54 Million Position in Nasdaq, Inc. $NDAQ

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 876,648 shares of the financial services provider’s stock after purchasing an additional 75,994 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Nasdaq were worth $77,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Front Row Advisors LLC acquired a new stake in shares of Nasdaq in the 2nd quarter valued at $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Nasdaq during the 2nd quarter worth about $27,000. Tripletail Wealth Management LLC bought a new position in Nasdaq during the 3rd quarter valued at about $27,000. Access Investment Management LLC bought a new stake in Nasdaq during the second quarter worth about $28,000. Finally, Westside Investment Management Inc. increased its holdings in shares of Nasdaq by 100.0% during the third quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock worth $28,000 after buying an additional 159 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Price Performance

NASDAQ NDAQ opened at $87.58 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $49.78 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 1.46 and a beta of 1.02. The business has a 50 day simple moving average of $92.79 and a 200 day simple moving average of $91.27. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company earned $0.76 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. Analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio is presently 34.95%.

Insider Activity at Nasdaq

In other news, CEO Adena T. Friedman sold 300,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $96.39, for a total value of $28,917,000.00. Following the completion of the transaction, the chief executive officer owned 1,924,903 shares in the company, valued at $185,541,400.17. This trade represents a 13.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the transaction, the executive vice president owned 125,674 shares of the company’s stock, valued at approximately $12,568,656.74. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 604,500 shares of company stock valued at $58,440,045 over the last ninety days. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NDAQ. Morgan Stanley set a $116.00 target price on Nasdaq and gave the company an “overweight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a report on Friday, January 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a report on Wednesday. Finally, UBS Group reiterated a “buy” rating and set a $120.00 target price (up from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $103.80.

Nasdaq 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.