Wellington Management Group LLP Sells 1,434,233 Shares of Nasdaq, Inc. $NDAQ

Wellington Management Group LLP cut its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.5% in the third quarter, HoldingsChannel reports. The firm owned 39,802,892 shares of the financial services provider’s stock after selling 1,434,233 shares during the quarter. Nasdaq accounts for 0.6% of Wellington Management Group LLP’s portfolio, making the stock its 23rd largest position. Wellington Management Group LLP owned about 0.07% of Nasdaq worth $3,520,566,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NDAQ. Front Row Advisors LLC bought a new position in Nasdaq during the second quarter valued at $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Nasdaq during the 2nd quarter valued at about $27,000. Tripletail Wealth Management LLC purchased a new stake in shares of Nasdaq during the 3rd quarter valued at about $27,000. Westside Investment Management Inc. lifted its holdings in shares of Nasdaq by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 159 shares during the last quarter. Finally, West Branch Capital LLC bought a new stake in Nasdaq during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity

In other news, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the transaction, the executive vice president directly owned 125,674 shares of the company’s stock, valued at approximately $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adena T. Friedman sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the sale, the chief executive officer owned 1,924,903 shares of the company’s stock, valued at $186,542,349.73. The trade was a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 697,340 shares of company stock worth $66,803,072 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NDAQ has been the subject of several analyst reports. Argus raised Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a report on Friday, January 9th. JPMorgan Chase & Co. raised their price target on Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. TD Cowen raised shares of Nasdaq from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $106.00 in a research note on Thursday, February 26th. Finally, Barclays reiterated an “overweight” rating and set a $115.00 price objective (up from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $103.80.

Nasdaq Trading Up 1.7%

NDAQ opened at $85.53 on Friday. The stock has a market cap of $48.62 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.54 and a beta of 1.03. The stock’s 50 day moving average price is $90.63 and its 200-day moving average price is $90.74. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $101.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.37 billion. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.Nasdaq’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. On average, equities analysts forecast 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 Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $0.27 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio is presently 34.95%.

Nasdaq Company 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.