Malaga Cove Capital LLC Has $470,000 Holdings in Nasdaq, Inc. $NDAQ

Malaga Cove Capital LLC grew its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 77.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,260 shares of the financial services provider’s stock after purchasing an additional 2,304 shares during the period. Malaga Cove Capital LLC’s holdings in Nasdaq were worth $470,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC purchased a new position in shares of Nasdaq during the first quarter valued at approximately $241,614,000. Invesco Ltd. lifted its stake in Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock valued at $416,795,000 after acquiring an additional 1,592,057 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Nasdaq by 5.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock worth $1,550,115,000 after acquiring an additional 993,553 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Nasdaq by 54.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,689,196 shares of the financial services provider’s stock worth $240,468,000 after acquiring an additional 952,354 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Nasdaq by 104.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock worth $125,574,000 after acquiring an additional 845,725 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NDAQ has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Nasdaq from $97.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Cowen reiterated a “hold” rating on shares of Nasdaq in a research note on Wednesday, October 22nd. Piper Sandler boosted their target price on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 price target (up from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Finally, UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.67.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $85.40, for a total value of $179,767.00. Following the completion of the transaction, the executive vice president directly owned 84,974 shares in the company, valued at approximately $7,256,779.60. The trade was a 2.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ opened at $86.19 on Friday. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s fifty day moving average price is $89.76 and its two-hundred day moving average price is $87.99. The firm has a market cap of $49.21 billion, a PE ratio of 30.78, a PEG ratio of 1.79 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.29 billion. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, equities research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, December 5th. Nasdaq’s dividend payout ratio is presently 38.57%.

About Nasdaq

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.