1248 Management LLC Invests $299,000 in Nasdaq, Inc. $NDAQ

1248 Management LLC bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,947 shares of the financial services provider’s stock, valued at approximately $299,000.

Several other large investors also recently modified their holdings of NDAQ. Nuveen LLC acquired a new stake in shares of Nasdaq during the 1st quarter worth $241,614,000. Invesco Ltd. grew its holdings in shares of Nasdaq by 40.8% during the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock worth $416,795,000 after purchasing an additional 1,592,057 shares in the last quarter. GAMMA Investing LLC boosted its stake in Nasdaq by 7,367.6% in the first quarter. GAMMA Investing LLC now owns 1,129,328 shares of the financial services provider’s stock valued at $85,671,000 after buying an additional 1,114,205 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Nasdaq by 5.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock valued at $1,550,115,000 after buying an additional 993,553 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Nasdaq by 104.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock valued at $125,574,000 after buying an additional 845,725 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Bradley J. Peterson sold 11,508 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the transaction, the executive vice president directly owned 111,035 shares in the company, valued at $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of the firm’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 of the company’s stock, valued at $8,837,694.99. This trade represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,409 shares of company stock valued at $2,223,599. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $95.88 on Friday. The business’s 50-day moving average price is $93.52 and its 200-day moving average price is $84.06. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63. The firm has a market capitalization of $55.01 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 2.07 and a beta of 1.02. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73.

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

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th 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 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq’s dividend payout ratio (DPR) is presently 41.54%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NDAQ. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $101.00 price objective (up from $96.00) on shares of Nasdaq in a research note on Tuesday, July 15th. Royal Bank Of Canada raised their price objective on Nasdaq from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Nasdaq in a research note on Friday, July 25th. Finally, Morgan Stanley raised 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. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.06.

Nasdaq 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.