Shell Asset Management Co. Decreases Stake in Nasdaq, Inc. $NDAQ

Shell Asset Management Co. lessened its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 36.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,932 shares of the financial services provider’s stock after selling 16,833 shares during the period. Shell Asset Management Co.’s holdings in Nasdaq were worth $2,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NDAQ. Empowered Funds LLC increased its holdings in shares of Nasdaq by 3.8% in the 1st quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 538 shares in the last quarter. Woodline Partners LP grew its position in Nasdaq by 40.7% during the first quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock worth $2,652,000 after buying an additional 10,110 shares during the period. Focus Partners Wealth increased its holdings in Nasdaq by 22.0% in the first quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock valued at $1,089,000 after buying an additional 2,584 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 463 shares during the period. Finally, CWM LLC boosted its stake in shares of Nasdaq by 106.2% during the 2nd quarter. CWM LLC now owns 30,179 shares of the financial services provider’s stock worth $2,699,000 after acquiring an additional 15,545 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John Zecca sold 4,500 shares of the stock in a transaction dated Tuesday, January 6th. The stock was 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 in the company, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adena T. Friedman sold 300,000 shares of Nasdaq stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,924,903 shares of the company’s stock, valued at $185,541,400.17. This trade represents a 13.48% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 604,500 shares of company stock worth $58,440,045. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NDAQ shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research note on Friday, January 30th. Barclays restated an “overweight” rating and issued a $115.00 price target (up previously from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $120.00 price objective (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. Finally, Argus upgraded shares of Nasdaq to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.13.

Nasdaq Trading Up 0.6%

Nasdaq stock opened at $79.47 on Friday. The stock has a 50-day moving average price of $94.86 and a 200 day moving average price of $92.19. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $101.79. The stock has a market cap of $45.38 billion, a PE ratio of 25.72, a P/E/G ratio of 1.31 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.70.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. Equities research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders 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 annualized dividend and a yield of 1.4%. Nasdaq’s payout ratio is 34.95%.

Nasdaq 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.