iA Global Asset Management Inc. Makes New Investment in Nasdaq, Inc. $NDAQ

iA Global Asset Management Inc. bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 16,787 shares of the financial services provider’s stock, valued at approximately $1,485,000.

Other large investors have also recently modified their holdings of the company. Naples Global Advisors LLC raised its stake in Nasdaq by 20.7% in the third quarter. Naples Global Advisors LLC now owns 10,534 shares of the financial services provider’s stock worth $932,000 after buying an additional 1,804 shares in the last quarter. Strs Ohio boosted its position in Nasdaq by 60.0% during the 3rd quarter. Strs Ohio now owns 607,361 shares of the financial services provider’s stock valued at $53,721,000 after acquiring an additional 227,858 shares in the last quarter. Covestor Ltd grew its holdings in shares of Nasdaq by 90.0% during the 3rd quarter. Covestor Ltd now owns 1,347 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 638 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of Nasdaq during the 3rd quarter worth approximately $137,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Nasdaq by 2.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 619,717 shares of the financial services provider’s stock worth $54,814,000 after acquiring an additional 13,947 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a research report on Thursday, January 15th. TD Cowen restated a “hold” rating on shares of Nasdaq in a report on Wednesday, January 14th. Barclays set a $115.00 target price on shares of Nasdaq and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a research report on Thursday, October 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a report on Friday, January 9th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.67.

Nasdaq Trading Down 0.7%

Shares of NASDAQ:NDAQ opened at $98.05 on Friday. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $101.79. The stock’s fifty day moving average price is $94.56 and its 200-day moving average price is $92.33. The company has a market cap of $55.99 billion, a P/E ratio of 35.02, a PEG ratio of 1.46 and a beta of 1.01. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99.

Insider Activity

In related news, CEO Adena T. Friedman sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $96.39, for a total value of $28,917,000.00. Following the sale, the chief executive officer owned 1,924,903 shares in the company, valued at approximately $185,541,400.17. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the completion of the sale, the executive vice president directly owned 84,974 shares of the company’s stock, valued at approximately $7,256,779.60. This trade represents a 2.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 306,605 shares of company stock valued at $29,546,812 in the last 90 days. 0.70% of the stock is currently owned by insiders.

About Nasdaq

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.