Deutsche Bank AG cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133,774 shares of the financial services provider’s stock after selling 41,515 shares during the period. Deutsche Bank AG’s holdings in Nasdaq were worth $199,318,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. acquired a new stake in Nasdaq in the first quarter worth $30,000. Meeder Asset Management Inc. grew its stake in shares of Nasdaq by 33.9% in the second quarter. Meeder Asset Management Inc. now owns 245 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 62 shares in the last quarter. Twin Lakes Capital Management LLC bought a new position in shares of Nasdaq in the first quarter worth $37,000. Eagle Bay Advisors LLC bought a new position in Nasdaq during the second quarter valued at about $95,000. Finally, Arcadia Investment Management Corp MI bought a new position in Nasdaq during the second quarter valued at about $127,000. 71.40% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Pc Nelson Griggs sold 2,000 shares of the business’s stock in a transaction on Friday, July 23rd. The stock was sold at an average price of $187.66, for a total transaction of $375,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeremy Skule sold 865 shares of the business’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $196.65, for a total value of $170,102.25. The disclosure for this sale can be found here. Insiders have sold a total of 9,411 shares of company stock valued at $1,800,404 in the last 90 days. 0.60% of the stock is owned by corporate insiders.
Nasdaq (NASDAQ:NDAQ) last released its earnings results on Tuesday, July 20th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.17. The firm had revenue of $846.00 million for the quarter, compared to analyst estimates of $825.84 million. Nasdaq had a return on equity of 18.34% and a net margin of 18.97%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 EPS. As a group, equities research analysts forecast that Nasdaq, Inc. will post 7.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Friday, September 10th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $2.16 annualized dividend and a dividend yield of 1.13%. Nasdaq’s dividend payout ratio (DPR) is presently 34.95%.
Several research analysts recently weighed in on the company. Piper Sandler raised their target price on Nasdaq from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 12th. Citigroup increased their price target on Nasdaq from $181.00 to $193.00 and gave the company a “neutral” rating in a research report on Thursday, July 22nd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft increased their price target on Nasdaq from $193.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 22nd. Oppenheimer began coverage on Nasdaq in a research note on Wednesday, July 21st. They issued a “buy” rating and a $195.00 price objective for the company. Finally, Zacks Investment Research downgraded Nasdaq from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Tuesday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $180.81.
Nasdaq Company Profile
Nasdaq, Inc is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information and public & private company services. It operates through the following segments: Market Services, Corporate Services, Information Services and Market Technology. The Market Services segment includes its equity derivative trading and clearing, cash equity trading, FICC and trade management services businesses.
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