Insider Selling: Nasdaq (NASDAQ:NDAQ) EVP Sells $105,896.25 in Stock

Nasdaq, Inc. (NASDAQ:NDAQ) EVP Jeremy Skule sold 1,125 shares of Nasdaq stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $94.13, for a total transaction of $105,896.25. Following the transaction, the executive vice president directly owned 97,686 shares in the company, valued at $9,195,183.18. The trade was a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Jeremy Skule also recently made the following trade(s):

• On Tuesday, September 22nd, Jeremy Skule sold 1,125 shares of Nasdaq stock. The shares were sold at an average price of $95.00, for a total transaction of $106,875.00.
• On Thursday, September 10th, Jeremy Skule sold 1,125 shares of Nasdaq stock. The shares were sold at an average price of $94.22, for a total transaction of $105,997.50.

Nasdaq Trading Up 0.5%

NDAQ traded up $0.47 during mid-day trading on Friday, hitting $93.97. The stock had a trading volume of 2,643,767 shares, compared to its average volume of 3,219,736. The stock’s fifty day simple moving average is $94.68 and its 200-day simple moving average is $90.61. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 1.67 and a beta of 0.99. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01.

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

Nasdaq Dividend Announcement

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

Analyst Upgrades and Downgrades

NDAQ has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Nasdaq from $108.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Zacks Research downgraded Nasdaq from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Barclays reiterated an “overweight” rating and set a $109.00 price objective (down from $111.00) on shares of Nasdaq in a report on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Nasdaq presently has an average rating of “Moderate Buy” and a consensus target price of $108.83.

Institutional Investors Weigh In On Nasdaq

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantum Portfolio Management LLC boosted its stake in Nasdaq by 1.8% in the 1st 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 period. Arkadios Wealth Advisors increased its holdings in Nasdaq by 2.5% during the 1st quarter. Arkadios Wealth Advisors now owns 5,643 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 137 shares in the last quarter. AlphaCentric Advisors LLC raised its stake in shares of Nasdaq by 5.9% in the 1st quarter. AlphaCentric Advisors LLC now owns 2,603 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 145 shares during the period. Brown Lisle Cummings Inc. raised its stake in shares of Nasdaq by 1.7% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,815 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 151 shares during the period. Finally, Hunter Associates Investment Management LLC raised its stake in shares of Nasdaq by 1.0% in the 1st quarter. Hunter Associates Investment Management LLC now owns 15,150 shares of the financial services provider’s stock valued at $1,285,000 after purchasing an additional 153 shares during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq News Summary

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq completed its acquisition of LeveL Markets, one of the largest U.S. alternative trading systems. The deal expands Nasdaq’s trading and liquidity infrastructure and supports its strategy of enabling more continuous, global market access. Nasdaq Completes Acquisition of LeveL Markets
• Positive Sentiment: Analyst sentiment remains favorable. Bank of America maintained a Buy rating, while J.P. Morgan also rates the shares Buy. Deutsche Bank recently raised its price target to $116, and the broader analyst consensus is Moderate Buy with an average target of about $108.83. Bank of America Buy Rating
• Positive Sentiment: Nasdaq is expected to report earnings next week, with analysts anticipating year-over-year growth and potential for another earnings beat. Industry tailwinds include rising crypto adoption, technology investment and growth in recurring, non-trading revenue. Nasdaq Earnings Preview

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.