Pc Nelson Griggs Sells 11,010 Shares of Nasdaq (NASDAQ:NDAQ) Stock

Nasdaq, Inc. (NASDAQ:NDAQ) insider Pc Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $93.96, for a total transaction of $1,034,499.60. Following the sale, the insider owned 216,011 shares in the company, valued at approximately $20,296,393.56. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Pc Nelson Griggs also recently made the following trade(s):

• On Friday, July 24th, Pc Nelson Griggs sold 6,777 shares of Nasdaq stock. The shares were sold at an average price of $92.53, for a total transaction of $627,075.81.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $95.55 on Thursday. The firm has a market cap of $53.41 billion, a PE ratio of 27.86, a PEG ratio of 1.30 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The company has a fifty day moving average price of $87.65 and a 200 day moving average price of $88.34.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.09. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Research analysts predict that Nasdaq, Inc. will post 4.13 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio (DPR) is presently 36.15%.

Analysts Set New Price Targets

A number of research firms have weighed in on NDAQ. Keefe, Bruyette & Woods upped their price target on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday. Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a report on Thursday, June 11th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Nasdaq currently has a consensus rating of “Buy” and an average price target of $109.73.

Key Nasdaq News

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Zacks upgraded Nasdaq to “Strong Buy” from “Hold,” adding a favorable near-term catalyst and signaling improved expectations for the financial technology and exchange operator. Zacks.com
• Positive Sentiment: Nasdaq’s latest results showed strong operating momentum: quarterly earnings per share reached $1.07, exceeding the $0.98 consensus estimate, while revenue rose 14.9% year over year to $2.53 billion. Analysts expect approximately $4.13 in full-year EPS.
• Positive Sentiment: Analyst sentiment remains constructive. Nasdaq has an average rating of “Buy” and an average price target of $109.73, implying additional upside from recent trading levels; TD Cowen and Raymond James recently raised their targets to $105 and $113, respectively.
• Positive Sentiment: The company declared a quarterly dividend of $0.31 per share, equivalent to $1.24 annually and a yield of roughly 1.3%. A broader rally in financial stocks and fintech-related companies, including a record high for the XLF financial-sector ETF, may also be supporting the sector backdrop. Financial Sector ETF Hits Record High on Fintech Gains
• Neutral Sentiment: Institutional investors own approximately 72.5% of Nasdaq’s outstanding shares, providing a substantial base of professional ownership, although recent changes in institutional positions were relatively small.
• Negative Sentiment: Insiders disclosed multiple sales. President Pc Nelson Griggs sold 17,787 shares worth approximately $1.66 million across July 24 and July 27, reducing his position by roughly 7.8% overall. EVP Bradley J. Peterson also sold 13,000 shares valued at about $1.20 million, cutting his holdings by 9.2%. These transactions can create short-term selling pressure, although both executives retain significant stakes. Nasdaq Insider Selling Report

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Nasdaq by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock worth $5,819,727,000 after purchasing an additional 268,481 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock valued at $2,683,485,000 after buying an additional 1,258,964 shares in the last quarter. State Street Corp increased its holdings in Nasdaq by 1.3% during the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock worth $1,930,808,000 after buying an additional 259,408 shares during the last quarter. Geode Capital Management LLC raised its position in Nasdaq by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock worth $1,243,807,000 after acquiring an additional 378,577 shares in the last quarter. Finally, Morgan Stanley raised its position in Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after acquiring an additional 3,567,843 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

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.