Nasdaq, Inc. $NDAQ Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,187 shares of the financial services provider’s stock after selling 16,840 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Nasdaq were worth $10,508,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NDAQ. Westside Investment Management Inc. increased its position in shares of Nasdaq by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new stake in shares of Nasdaq in the 4th quarter valued at approximately $34,000. Elyxium Wealth LLC purchased a new stake in shares of Nasdaq in the 4th quarter valued at approximately $44,000. Community Bank N.A. purchased a new stake in shares of Nasdaq in the 3rd quarter valued at approximately $45,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Nasdaq by 345.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 463 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the transaction, the senior vice president directly owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adena T. Friedman sold 113,611 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the transaction, the chief executive officer directly owned 1,965,751 shares in the company, valued at $167,953,765.44. The trade was a 5.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 231,002 shares of company stock valued at $20,295,941. Company insiders own 0.60% of the company’s stock.

Nasdaq Trading Down 2.1%

NASDAQ NDAQ opened at $90.01 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $87.46 and its 200 day moving average price is $89.82. The company has a market capitalization of $50.90 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. Nasdaq, Inc. has a 12 month low of $77.09 and a 12 month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. On average, sell-side analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, June 12th. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s payout ratio is 32.53%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NDAQ. Loop Capital set a $113.00 price objective on shares of Nasdaq in a research report on Friday, April 24th. Barclays increased their price objective on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Nasdaq from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Morgan Stanley set a $116.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, TD Cowen raised shares of Nasdaq from a “hold” rating to a “buy” rating and increased their price objective for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.15.

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.