Coastal Bridge Advisors LLC Makes New $657,000 Investment in Nasdaq, Inc. $NDAQ

Coastal Bridge Advisors LLC bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,340 shares of the financial services provider’s stock, valued at approximately $657,000.

A number of other hedge funds have also recently made changes to their positions in NDAQ. MV Capital Management Inc. bought a new position in Nasdaq in the 4th quarter valued at approximately $28,000. Fiduciary Financial Advisors acquired a new stake in Nasdaq during the 2nd quarter worth approximately $25,000. Nemes Rush Group LLC bought a new stake in Nasdaq during the 4th quarter worth approximately $35,000. Uniplan Investment Counsel Inc. bought a new stake in Nasdaq during the 4th quarter worth approximately $35,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in Nasdaq in the 4th quarter valued at approximately $37,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Rothschild & Co Redburn set a $110.00 price objective on shares of Nasdaq in a research note on Thursday, June 11th. Zacks Research upgraded Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Finally, TD Cowen reaffirmed a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $110.30.

Nasdaq Stock Down 0.0%

Nasdaq stock opened at $99.31 on Friday. The firm has a market cap of $55.51 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.32 and a beta of 0.97. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average price of $91.20 and a two-hundred day moving average price of $88.40.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $0.85 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.2%. Nasdaq’s payout ratio is presently 36.15%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the sale, the executive vice president owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. This represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ab Investor purchased 56,782 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the acquisition, the insider owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is currently owned by insiders.

About Nasdaq

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.