Naples Global Advisors LLC Lowers Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Naples Global Advisors LLC cut its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,330 shares of the financial services provider’s stock after selling 375 shares during the quarter. Naples Global Advisors LLC’s holdings in Nasdaq were worth $632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Nasdaq during the fourth quarter worth about $274,000. Teacher Retirement System of Texas grew its holdings in shares of Nasdaq by 892.3% during the fourth quarter. Teacher Retirement System of Texas now owns 60,647 shares of the financial services provider’s stock worth $4,689,000 after buying an additional 54,535 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Nasdaq by 26.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,173 shares of the financial services provider’s stock worth $3,454,000 after buying an additional 9,130 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Nasdaq during the fourth quarter worth about $48,749,000. Finally, Farallon Capital Management LLC grew its holdings in shares of Nasdaq by 6.3% during the fourth quarter. Farallon Capital Management LLC now owns 3,998,019 shares of the financial services provider’s stock worth $309,087,000 after buying an additional 235,748 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nasdaq

In other news, EVP Sarah Youngwood sold 14,959 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the transaction, the executive vice president now directly owns 59,694 shares of the company’s stock, valued at approximately $4,398,253.92. The trade was a 20.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pc Nelson Griggs sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the transaction, the insider now directly owns 211,405 shares in the company, valued at approximately $17,552,957.15. The trade was a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,616 shares of company stock valued at $1,813,598 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Trading Up 1.9%

Shares of NDAQ stock opened at $85.61 on Friday. The stock has a market cap of $49.15 billion, a price-to-earnings ratio of 44.59, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. Nasdaq, Inc. has a fifty-two week low of $58.28 and a fifty-two week high of $85.72. The firm’s 50 day moving average price is $77.19 and its two-hundred day moving average price is $78.46.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. Nasdaq’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. On average, analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.26%. This is a boost from Nasdaq’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, June 13th. Nasdaq’s payout ratio is 49.09%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup lowered their price target on shares of Nasdaq from $84.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Oppenheimer lowered their target price on shares of Nasdaq from $89.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Morgan Stanley downgraded shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 target price for the company. in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $87.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.