Pallas Capital Advisors LLC Purchases Shares of 6,150 Nasdaq, Inc. $NDAQ

Pallas Capital Advisors LLC acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,150 shares of the financial services provider’s stock, valued at approximately $485,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in Nasdaq by 3.8% during the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock worth $1,106,000 after buying an additional 538 shares in the last quarter. Woodline Partners LP lifted its stake in Nasdaq by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after acquiring an additional 10,110 shares in the last quarter. Focus Partners Wealth lifted its stake in Nasdaq by 22.0% during the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock valued at $1,089,000 after acquiring an additional 2,584 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 463 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in Nasdaq by 4.4% during the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 481 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on NDAQ. Morgan Stanley reiterated an “overweight” rating and issued a $120.00 target price on shares of Nasdaq in a report on Friday, July 24th. Loop Capital set a $113.00 price target on shares of Nasdaq in a report on Friday, April 24th. Barclays reaffirmed an “overweight” rating and issued a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research report on Friday, July 24th. TD Cowen reiterated a “buy” rating and issued a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research note on Monday, July 20th. Finally, Raymond James Financial restated an “outperform” rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $110.30.

Nasdaq Price Performance

Nasdaq stock opened at $96.35 on Thursday. The business’s 50 day simple moving average is $89.45 and its 200 day simple moving average is $87.96. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The company has a market cap of $53.86 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.30 and a beta of 0.97. 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 released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share. Sell-side analysts forecast that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio is presently 36.15%.

Insider Buying and Selling

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ab Investor bought 56,782 shares of the business’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 transaction, the insider directly owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is owned by insiders.

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.