Cinctive Capital Management LP Acquires 73,775 Shares of Nasdaq, Inc. $NDAQ

Cinctive Capital Management LP lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 1,939.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,579 shares of the financial services provider’s stock after buying an additional 73,775 shares during the quarter. Cinctive Capital Management LP’s holdings in Nasdaq were worth $6,862,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Nasdaq by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider’s stock valued at $5,275,902,000 after acquiring an additional 3,848,406 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Nasdaq by 33.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock worth $2,438,897,000 after purchasing an additional 6,840,735 shares during the period. Invesco Ltd. grew its holdings in Nasdaq by 11.8% in the third quarter. Invesco Ltd. now owns 5,044,521 shares of the financial services provider’s stock worth $446,188,000 after purchasing an additional 532,775 shares during the period. Norges Bank bought a new position in shares of Nasdaq during the second quarter valued at approximately $406,823,000. Finally, Amundi increased its stake in shares of Nasdaq by 55.7% during the second quarter. Amundi now owns 3,535,689 shares of the financial services provider’s stock valued at $316,515,000 after purchasing an additional 1,264,975 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Price Performance

NASDAQ NDAQ opened at $85.53 on Friday. The company has a 50-day moving average price of $90.63 and a 200-day moving average price of $90.71. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $101.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $48.62 billion, a P/E ratio of 27.68, a PEG ratio of 1.57 and a beta of 1.03.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data 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 company had revenue of $2.12 billion for 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 firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. Equities research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, March 16th. Nasdaq’s dividend payout ratio (DPR) is currently 34.95%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NDAQ. TD Cowen raised Nasdaq from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research report on Friday, January 9th. Argus upgraded Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. Barclays reissued an “overweight” rating and issued a $115.00 target price (up from $114.00) on shares of Nasdaq in a report on Friday, January 30th. Finally, Morgan Stanley set a $116.00 target price on Nasdaq and gave the stock an “overweight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Nasdaq has a consensus rating of “Buy” and a consensus target price of $103.80.

Insider Buying and Selling at Nasdaq

In related news, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adena T. Friedman sold 300,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,924,903 shares in the company, valued at approximately $186,542,349.73. This represents a 13.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 697,340 shares of company stock worth $66,803,072 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

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.