Greenland Capital Management LP Makes New Investment in Nasdaq, Inc. $NDAQ

Greenland Capital Management LP bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,836 shares of the financial services provider’s stock, valued at approximately $969,000.

A number of other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in Nasdaq by 33.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock worth $2,438,897,000 after purchasing an additional 6,840,735 shares during the last quarter. Nuveen LLC purchased a new position in shares of Nasdaq in the 1st quarter worth approximately $241,614,000. Vanguard Group Inc. grew its holdings in shares of Nasdaq by 5.3% in the second quarter. Vanguard Group Inc. now owns 55,800,000 shares of the financial services provider’s stock valued at $4,989,636,000 after acquiring an additional 2,820,339 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Nasdaq by 40.8% in the first quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock valued at $416,795,000 after acquiring an additional 1,592,057 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Nasdaq by 54.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,689,196 shares of the financial services provider’s stock valued at $240,468,000 after acquiring an additional 952,354 shares during the last quarter. 72.47% of the stock is owned by institutional investors.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $85.40, for a total value of $179,767.00. Following the completion of the transaction, the executive vice president owned 84,974 shares in the company, valued at $7,256,779.60. This trade represents a 2.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NDAQ shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods boosted their price target on shares of Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Piper Sandler increased their price target on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Barclays set a $109.00 price objective on shares of Nasdaq and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Nasdaq in a research report on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.67.

Nasdaq Price Performance

NDAQ opened at $86.02 on Thursday. The firm has a 50-day moving average price of $88.44 and a 200-day moving average price of $88.85. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $49.12 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.79 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm earned $0.74 EPS. Nasdaq’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.27 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. Nasdaq’s payout ratio is 38.57%.

About Nasdaq

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.