Cross Staff Investments Inc Buys Shares of 3,500 Nasdaq, Inc. (NASDAQ:NDAQ)

Cross Staff Investments Inc purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,500 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in Nasdaq by 48.7% in the third quarter. Canada Pension Plan Investment Board now owns 428,643 shares of the financial services provider’s stock valued at $20,828,000 after acquiring an additional 140,286 shares during the period. Schonfeld Strategic Advisors LLC grew its position in shares of Nasdaq by 10.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 446,910 shares of the financial services provider’s stock valued at $21,715,000 after purchasing an additional 43,910 shares during the period. ING Groep NV raised its holdings in Nasdaq by 6.9% during the 3rd quarter. ING Groep NV now owns 53,838 shares of the financial services provider’s stock worth $2,616,000 after buying an additional 3,455 shares during the period. Braun Stacey Associates Inc. lifted its stake in Nasdaq by 29.5% in the fourth quarter. Braun Stacey Associates Inc. now owns 365,494 shares of the financial services provider’s stock valued at $21,250,000 after buying an additional 83,227 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Nasdaq by 1.8% in the fourth quarter. Nordea Investment Management AB now owns 2,326,799 shares of the financial services provider’s stock valued at $135,396,000 after buying an additional 40,215 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ traded down $0.03 during trading on Friday, reaching $60.26. 3,161,292 shares of the company traded hands, compared to its average volume of 3,160,631. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.94. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $64.25. The firm has a market capitalization of $34.66 billion, a PE ratio of 28.48, a PEG ratio of 2.82 and a beta of 0.93. The company’s 50 day moving average is $59.84 and its two-hundred day moving average is $56.39.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. Nasdaq’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. As a group, sell-side analysts predict that Nasdaq, Inc. will post 2.75 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. Nasdaq’s payout ratio is 41.71%.

Insider Activity at Nasdaq

In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nasdaq news, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the completion of the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Wednesday, March 27th. Barclays dropped their target price on Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley raised Nasdaq from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $59.00 to $80.00 in a research report on Tuesday, April 9th. Finally, Citigroup increased their price objective on Nasdaq from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nasdaq presently has an average rating of “Moderate Buy” and a consensus price target of $66.92.

Nasdaq Company 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.