Nasdaq, Inc. $NDAQ Shares Sold by First Pacific Financial

First Pacific Financial lowered its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 11.1% in the second quarter, HoldingsChannel.com reports. The fund owned 10,523 shares of the financial services provider’s stock after selling 1,311 shares during the quarter. First Pacific Financial’s holdings in Nasdaq were worth $941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NDAQ. Nuveen LLC acquired a new position in Nasdaq during the first quarter worth about $241,614,000. Invesco Ltd. raised its position in Nasdaq by 40.8% during the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after acquiring an additional 1,592,057 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Nasdaq by 5.1% during the first 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. Lord Abbett & CO. LLC raised its position in Nasdaq by 104.5% during the first 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 during the last quarter. Finally, Jefferies Financial Group Inc. raised its position in Nasdaq by 2,462.5% during the first quarter. Jefferies Financial Group Inc. now owns 788,249 shares of the financial services provider’s stock worth $59,797,000 after acquiring an additional 757,488 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NDAQ shares. Morgan Stanley increased their price objective on Nasdaq from $75.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Raymond James Financial reissued an “outperform” rating and set a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Piper Sandler increased their price target on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Citigroup reissued a “neutral” rating on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $115.00 in a research note on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Nasdaq presently has an average rating of “Moderate Buy” and a consensus price target of $97.06.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $88.45 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $50.75 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 1.94 and a beta of 1.02. The firm’s fifty day simple moving average is $93.61 and its 200 day simple moving average is $85.27. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. As a group, equities research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.08 annualized dividend and a yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is 41.54%.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares in the company, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at approximately $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

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.