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 dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, July 27th, Pc Nelson Griggs sold 11,010 shares of Nasdaq stock. The stock was sold at an average price of $93.96, for a total value of $1,034,499.60.
• On Friday, July 24th, Pc Nelson Griggs sold 6,777 shares of Nasdaq stock. The stock was sold at an average price of $92.53, for a total value of $627,075.81.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $94.19 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $87.81 and a 200-day simple moving average of $88.36. The company has a market cap of $52.65 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 1.28 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, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that Nasdaq, Inc. will post 4.13 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, September 11th. Nasdaq’s payout ratio is presently 36.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NDAQ shares. Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. TD Cowen restated a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Wall Street Zen raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $120.00 target price on shares of Nasdaq in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $109.73.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NDAQ. Trust Asset Management LLC raised its stake in shares of Nasdaq by 7.9% during the 2nd quarter. Trust Asset Management LLC now owns 4,915 shares of the financial services provider’s stock worth $387,000 after buying an additional 360 shares during the last quarter. Whitener Capital Management Inc. grew its stake in Nasdaq by 4.7% in the 2nd quarter. Whitener Capital Management Inc. now owns 14,060 shares of the financial services provider’s stock valued at $1,108,000 after acquiring an additional 630 shares during the last quarter. Tema ETFs LLC grew its stake in Nasdaq by 9.8% in the 2nd quarter. Tema ETFs LLC now owns 8,150 shares of the financial services provider’s stock valued at $642,000 after acquiring an additional 725 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Nasdaq by 2.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 738,126 shares of the financial services provider’s stock valued at $58,179,000 after acquiring an additional 18,774 shares in the last quarter. Finally, Cooper Financial Group increased its holdings in Nasdaq by 32.6% during the 2nd quarter. Cooper Financial Group now owns 3,360 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 826 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

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.