Insider Selling: Nasdaq (NASDAQ:NDAQ) Insider Sells 11,010 Shares

Nasdaq, Inc. (NASDAQ:NDAQ) insider Pc Nelson Griggs sold 11,010 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider owned 205,001 shares in the company, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pc Nelson Griggs also recently made the following trade(s):

• On Monday, July 27th, Pc Nelson Griggs sold 11,010 shares of Nasdaq stock. The stock was sold at an average price of $93.96, for a total transaction of $1,034,499.60.
• On Friday, July 24th, Pc Nelson Griggs sold 6,777 shares of Nasdaq stock. The shares were sold at an average price of $92.53, for a total transaction of $627,075.81.

Nasdaq Price Performance

NASDAQ:NDAQ traded down $0.97 during mid-day trading on Friday, hitting $94.19. 3,181,741 shares of the stock traded hands, compared to its average volume of 4,090,120. The business’s 50-day moving average price is $87.74 and its 200 day moving average price is $88.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $52.65 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.99. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts expect that Nasdaq, Inc. will post 4.13 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio is presently 36.15%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Asset Management LLC raised its position in Nasdaq by 7.9% during the second quarter. Trust Asset Management LLC now owns 4,915 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 360 shares in the last quarter. Whitener Capital Management Inc. lifted its position in Nasdaq by 4.7% in the 2nd quarter. Whitener Capital Management Inc. now owns 14,060 shares of the financial services provider’s stock worth $1,108,000 after buying an additional 630 shares during the last quarter. Tema ETFs LLC lifted its position in Nasdaq by 9.8% in the 2nd quarter. Tema ETFs LLC now owns 8,150 shares of the financial services provider’s stock worth $642,000 after buying an additional 725 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Nasdaq by 2.6% in the second quarter. Handelsbanken Fonder AB now owns 738,126 shares of the financial services provider’s stock worth $58,179,000 after buying an additional 18,774 shares in the last quarter. Finally, Cooper Financial Group boosted its stake in Nasdaq by 32.6% in the second quarter. Cooper Financial Group now owns 3,360 shares of the financial services provider’s stock worth $265,000 after buying an additional 826 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Keefe, Bruyette & Woods raised their price target on Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research report on Thursday, June 11th. Morgan Stanley reissued an “overweight” rating and set a $120.00 price objective on shares of Nasdaq in a report on Friday, July 24th. Finally, Zacks Research upgraded shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Nasdaq presently has a consensus rating of “Buy” and an average price target of $109.73.

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.