Insider Selling: Nasdaq (NASDAQ:NDAQ) Insider Sells 10,390 Shares of Stock

Nasdaq, Inc. (NASDAQ:NDAQ) insider Tal Cohen sold 10,390 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $103.34, for a total value of $1,073,702.60. Following the completion of the transaction, the insider directly owned 205,076 shares in the company, valued at $21,192,553.84. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Nasdaq Stock Down 0.3%

NDAQ traded down $0.36 during trading on Tuesday, hitting $104.36. 3,665,056 shares of the company’s stock traded hands, compared to its average volume of 3,785,761. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $105.45. The company’s 50 day simple moving average is $95.02 and its two-hundred day simple moving average is $90.56. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $57.92 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.84 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $1.47 billion. Nasdaq had a return on equity of 19.03% and a net margin of 22.81%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. Analysts predict that Nasdaq, Inc. will post 4.13 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s payout ratio is 33.88%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Nasdaq from $100.00 to $111.00 and gave the company an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Nasdaq from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Friday. Argus raised their target price on shares of Nasdaq from $103.00 to $111.00 in a research note on Wednesday, August 5th. Morgan Stanley lifted their price target on shares of Nasdaq from $118.00 to $132.00 and gave the company an “overweight” rating in a report on Friday. Finally, Bank of America dropped their price target on shares of Nasdaq from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $113.53.

Hedge Funds Weigh In On Nasdaq

Hedge funds have recently made changes to their positions in the business. Great Lakes Retirement Inc. lifted its holdings in Nasdaq by 5.3% in the 3rd quarter. Great Lakes Retirement Inc. now owns 27,399 shares of the financial services provider’s stock worth $2,521,000 after purchasing an additional 1,386 shares in the last quarter. Generali Asset Management SPA SGR lifted its holdings in shares of Nasdaq by 22.0% in the third quarter. Generali Asset Management SPA SGR now owns 25,988 shares of the financial services provider’s stock worth $2,391,000 after buying an additional 4,691 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its holdings in shares of Nasdaq by 4.5% in the third quarter. Penobscot Investment Management Company Inc. now owns 38,220 shares of the financial services provider’s stock worth $3,517,000 after buying an additional 1,638 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Nasdaq by 15.0% during the third quarter. Oppenheimer & Co. Inc. now owns 8,891 shares of the financial services provider’s stock worth $818,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Center for Financial Planning Inc. bought a new position in shares of Nasdaq during the third quarter worth $32,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology and market infrastructure company best known for operating the Nasdaq Stock Market, one of the world’s largest electronic stock exchanges. The company provides listing services for public companies and operates trading venues for equities, options and other financial products. Its exchange business serves companies, investors and market participants in the United States, as well as through Nasdaq’s Nordic and Baltic market operations.

Beyond its exchange activities, Nasdaq provides market data, analytics, indexes and technology used by exchanges, brokers, banks, asset managers and other financial institutions.