Nasdaq, Inc. (NASDAQ:NDAQ) Stock Position Decreased by Massmutual Trust Co. FSB ADV

Posted by Defense World Staff on Mar 19th, 2023

Massmutual Trust Co. FSB ADV cut its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Get Rating) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,570 shares of the financial services provider’s stock after selling 1,148 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Nasdaq were worth $648,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Nasdaq by 199.6% in the third quarter. Vanguard Group Inc. now owns 38,732,420 shares of the financial services provider’s stock worth $2,195,354,000 after buying an additional 25,806,315 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Nasdaq by 200.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 36,693,056 shares of the financial services provider’s stock worth $2,079,761,000 after buying an additional 24,469,561 shares during the period. BlackRock Inc. boosted its position in shares of Nasdaq by 208.0% in the third quarter. BlackRock Inc. now owns 25,205,253 shares of the financial services provider’s stock worth $1,428,635,000 after buying an additional 17,020,720 shares during the period. State Street Corp boosted its position in shares of Nasdaq by 198.9% in the third quarter. State Street Corp now owns 14,905,982 shares of the financial services provider’s stock worth $844,871,000 after buying an additional 9,918,941 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in shares of Nasdaq by 199.2% in the third quarter. Artisan Partners Limited Partnership now owns 6,084,682 shares of the financial services provider’s stock worth $344,880,000 after buying an additional 4,050,818 shares during the period. 73.01% of the stock is owned by institutional investors.

Insider Transactions at Nasdaq

In other news, insider Michelle Lynn Daly sold 1,998 shares of the stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $59.55, for a total transaction of $118,980.90. Following the completion of the transaction, the insider now directly owns 8,971 shares in the company, valued at approximately $534,223.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Nasdaq news, EVP Bryan Everard Smith sold 6,000 shares of the stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $57.06, for a total value of $342,360.00. Following the transaction, the executive vice president now directly owns 56,083 shares of the company’s stock, valued at approximately $3,200,095.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michelle Lynn Daly sold 1,998 shares of the stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $59.55, for a total transaction of $118,980.90. Following the completion of the transaction, the insider now directly owns 8,971 shares in the company, valued at $534,223.05. The disclosure for this sale can be found here. Insiders sold a total of 14,298 shares of company stock worth $839,614 in the last three months. Insiders own 0.68% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft cut Nasdaq from a “buy” rating to a “hold” rating and reduced their price objective for the company from $72.00 to $60.00 in a research report on Thursday, January 26th. StockNews.com initiated coverage on Nasdaq in a research report on Thursday. They set a “hold” rating for the company. Piper Sandler reduced their price objective on Nasdaq from $73.33 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, January 26th. The Goldman Sachs Group lifted their price objective on Nasdaq from $50.00 to $55.00 and gave the company a “sell” rating in a research report on Monday, November 28th. Finally, Credit Suisse Group cut their target price on Nasdaq from $59.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, January 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.74.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $52.75 on Friday. The firm has a fifty day moving average of $58.50 and a two-hundred day moving average of $60.56. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 4.23 and a beta of 0.96. Nasdaq, Inc. has a 52 week low of $46.77 and a 52 week high of $69.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 0.97.

Nasdaq (NASDAQ:NDAQ – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Nasdaq had a net margin of 18.08% and a return on equity of 22.12%. The firm had revenue of $906.00 million during the quarter, compared to the consensus estimate of $908.94 million. During the same quarter in the prior year, the company earned $0.64 EPS. Nasdaq’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts predict that Nasdaq, Inc. will post 2.7 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 16th. Nasdaq’s payout ratio is presently 35.50%.

Nasdaq Company Profile

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Nasdaq, Inc is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Market Technology, Investment Intelligence, Corporate Platforms, and Market Services.