California State Teachers Retirement System Sells 21,368 Shares of Nasdaq, Inc. $NDAQ

California State Teachers Retirement System lessened its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 650,743 shares of the financial services provider’s stock after selling 21,368 shares during the quarter. California State Teachers Retirement System’s holdings in Nasdaq were worth $55,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Legal & General Group Plc grew its stake in shares of Nasdaq by 1.6% during the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock worth $277,329,000 after purchasing an additional 45,783 shares during the period. M&T Bank Corp lifted its stake in shares of Nasdaq by 27.5% in the fourth quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock valued at $5,933,000 after purchasing an additional 13,160 shares during the period. AlphaCore Capital LLC purchased a new stake in Nasdaq during the fourth quarter worth about $1,245,000. MKP Capital Management L.L.C. purchased a new stake in Nasdaq during the fourth quarter worth about $33,996,000. Finally, Advisors Preferred LLC purchased a new position in Nasdaq in the fourth quarter valued at about $4,872,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Ab Investor bought 56,782 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the purchase, the insider owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pc Nelson Griggs sold 11,010 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $93.96, for a total transaction of $1,034,499.60. Following the completion of the transaction, the insider directly owned 216,011 shares of the company’s stock, valued at $20,296,393.56. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 30,787 shares of company stock worth $2,865,505. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen reiterated a “buy” rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Loop Capital set a $113.00 price objective on Nasdaq in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Zacks Research raised Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Keefe, Bruyette & Woods raised their price target on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $109.73.

Nasdaq Stock Down 0.4%

NDAQ stock opened at $95.16 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $87.74 and its 200-day simple moving average is $88.32. Nasdaq, Inc. has a 12 month low of $76.55 and a 12 month high of $101.79. The firm has a market capitalization of $53.19 billion, a PE ratio of 27.74, a P/E/G ratio of 1.29 and a beta of 0.99.

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

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend 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%.

Nasdaq Profile

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.