Nasdaq (NASDAQ:NDAQ) Price Target Lowered to $108.00 at Barclays

Nasdaq (NASDAQ:NDAQ) had its target price lowered by analysts at Barclays from $114.00 to $108.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 26.31% from the company’s current price.

A number of other equities analysts have also recently commented on NDAQ. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Loop Capital set a $113.00 price objective on Nasdaq in a research note on Friday, April 24th. TD Cowen decreased their price objective on Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $106.92.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $85.50 on Thursday. The company has a market capitalization of $48.36 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.72 and a beta of 0.99. The business has a 50 day moving average of $87.34 and a 200 day moving average of $89.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. Nasdaq has a 1-year low of $76.55 and a 1-year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly 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. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts predict that Nasdaq will post 3.87 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Bradley J. Peterson sold 7,710 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the transaction, the executive vice president directly owned 141,035 shares of the company’s stock, valued at approximately $12,808,798.70. This represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ab Investor bought 56,782 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were purchased 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 of the company’s stock, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 24,551 shares of company stock worth $2,225,990 over the last ninety days. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Nasdaq

A number of institutional investors have recently bought and sold shares of NDAQ. Cooper Financial Group grew its holdings in shares of Nasdaq by 32.6% during the 2nd quarter. Cooper Financial Group now owns 3,360 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 826 shares during the period. Czech National Bank lifted its position in Nasdaq by 4.0% during the second quarter. Czech National Bank now owns 127,170 shares of the financial services provider’s stock valued at $10,024,000 after buying an additional 4,868 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in shares of Nasdaq by 9.1% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 103,999 shares of the financial services provider’s stock valued at $8,197,000 after buying an additional 8,707 shares in the last quarter. Trust Asset Management LLC boosted its holdings in shares of Nasdaq by 7.9% during the 2nd quarter. Trust Asset Management LLC now owns 4,915 shares of the financial services provider’s stock valued at $387,000 after buying an additional 360 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Nasdaq by 24.2% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 3,675 shares of the financial services provider’s stock valued at $290,000 after buying an additional 717 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

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.