Harmony Asset Management LLC Purchases 11,805 Shares of Nasdaq, Inc. $NDAQ

Harmony Asset Management LLC lifted its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 475.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,290 shares of the financial services provider’s stock after acquiring an additional 11,805 shares during the quarter. Harmony Asset Management LLC’s holdings in Nasdaq were worth $1,388,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NDAQ. Westside Investment Management Inc. grew its stake in shares of Nasdaq by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 159 shares in the last quarter. SOA Wealth Advisors LLC. bought a new stake in shares of Nasdaq in the 4th quarter worth $34,000. Elyxium Wealth LLC bought a new stake in shares of Nasdaq in the 4th quarter worth $44,000. Community Bank N.A. bought a new stake in shares of Nasdaq in the 3rd quarter worth $45,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Nasdaq by 345.5% in 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 in the last quarter. Institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on NDAQ shares. Loop Capital set a $113.00 target price on shares of Nasdaq in a research note on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research note on Friday, January 30th. Morgan Stanley set a $116.00 target price on shares of Nasdaq and gave the stock an “overweight” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.15.

Insider Activity at Nasdaq

In related news, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the transaction, the executive vice president owned 141,035 shares in the company, valued at approximately $12,808,798.70. This represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michelle Lynn Daly sold 1,323 shares of the stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $88.82, for a total transaction of $117,508.86. Following the transaction, the senior vice president owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. The trade was a 11.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 231,002 shares of company stock worth $20,295,941 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Price Performance

NDAQ opened at $90.01 on Thursday. The firm has a market cap of $50.90 billion, a P/E ratio of 27.11, a PEG ratio of 1.88 and a beta of 0.98. The firm has a 50-day moving average of $87.46 and a 200 day moving average of $89.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. Nasdaq, Inc. has a fifty-two week low of $77.09 and a fifty-two week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, research analysts expect that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, June 12th. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 1.4%. Nasdaq’s dividend payout ratio (DPR) is currently 32.53%.

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.