Insider Selling: Nasdaq (NASDAQ:NDAQ) Insider Sells $1,034,499.60 in Stock

Nasdaq, Inc. (NASDAQ:NDAQ) insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $93.96, for a total transaction of $1,034,499.60. Following the completion of the sale, the insider owned 216,011 shares of the company’s stock, valued at $20,296,393.56. This trade represents a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pc Nelson Griggs also recently made the following trade(s):

• On Friday, July 24th, Pc Nelson Griggs sold 6,777 shares of Nasdaq stock. The stock was sold at an average price of $92.53, for a total transaction of $627,075.81.

Nasdaq Stock Down 0.4%

Shares of NDAQ opened at $95.16 on Friday. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The firm’s 50 day moving average is $87.74 and its 200-day moving average is $88.32. The stock has a market capitalization of $53.19 billion, a PE ratio of 27.74, a P/E/G ratio of 1.29 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.09. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. Equities research analysts forecast that Nasdaq, Inc. will post 4.13 EPS for the current year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.3%. Nasdaq’s payout ratio is currently 36.15%.

Analysts Set New Price Targets

NDAQ has been the topic of several analyst reports. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. TD Cowen reaffirmed a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Finally, Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $109.73.

Hedge Funds Weigh In On Nasdaq

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Nasdaq by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock worth $5,819,727,000 after buying an additional 268,481 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock valued at $2,683,485,000 after buying an additional 1,258,964 shares in the last quarter. State Street Corp grew its position in Nasdaq by 1.3% in the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock valued at $1,930,808,000 after acquiring an additional 259,408 shares during the last quarter. Geode Capital Management LLC grew its position in Nasdaq by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock valued at $1,243,807,000 after acquiring an additional 378,577 shares during the last quarter. Finally, Morgan Stanley raised its stake in Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after acquiring an additional 3,567,843 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Company 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.