Fairbanks Capital Management Inc. Lowers Stock Holdings in Nasdaq, Inc. $NDAQ

Fairbanks Capital Management Inc. lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 43.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 18,209 shares of the financial services provider’s stock after selling 14,218 shares during the period. Fairbanks Capital Management Inc.’s holdings in Nasdaq were worth $1,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. NBC Securities Inc. lifted its position in Nasdaq by 7.8% during the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 111 shares during the period. ORG Wealth Partners LLC increased its holdings in shares of Nasdaq by 6.9% in the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 112 shares during the period. Independent Advisor Alliance increased its holdings in shares of Nasdaq by 2.6% in the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 117 shares during the period. Quantum Portfolio Management LLC raised its stake in shares of Nasdaq by 1.8% during the first quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 123 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its stake in shares of Nasdaq by 1.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock worth $831,000 after purchasing an additional 128 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Stock Up 0.7%

NDAQ opened at $90.90 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day simple moving average of $87.42 and a 200-day simple moving average of $88.54. The stock has a market capitalization of $51.41 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.44 and a beta of 0.99. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month 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 analysts’ consensus estimates of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts anticipate that Nasdaq, Inc. will post 3.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the sale, the senior vice president owned 10,089 shares of the company’s stock, valued at approximately $896,104.98. This trade represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the sale, the executive vice president owned 141,035 shares in the company, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 24,551 shares of company stock worth $2,225,990. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NDAQ shares. Barclays lowered their price objective on shares of Nasdaq from $114.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upped their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research note on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Finally, Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq has an average rating of “Buy” and a consensus target price of $108.00.

About Nasdaq

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.