Allspring Global Investments Holdings LLC Sells 587 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Allspring Global Investments Holdings LLC lowered its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 16,814 shares of the financial services provider’s stock after selling 587 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Nasdaq were worth $978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC lifted its holdings in shares of Nasdaq by 8.1% in the third quarter. Counterpoint Mutual Funds LLC now owns 2,675 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 201 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Nasdaq by 5.6% in the third quarter. Coldstream Capital Management Inc. now owns 4,788 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 255 shares during the last quarter. State of Michigan Retirement System raised its holdings in Nasdaq by 0.3% in the 4th quarter. State of Michigan Retirement System now owns 93,190 shares of the financial services provider’s stock valued at $5,418,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System raised its holdings in Nasdaq by 0.3% in the 3rd quarter. Arizona State Retirement System now owns 93,723 shares of the financial services provider’s stock valued at $4,554,000 after buying an additional 306 shares during the last quarter. Finally, Avitas Wealth Management LLC raised its holdings in Nasdaq by 1.7% in the 4th quarter. Avitas Wealth Management LLC now owns 19,094 shares of the financial services provider’s stock valued at $1,110,000 after buying an additional 315 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In other news, EVP Bryan Everard Smith sold 7,400 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the completion of the sale, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Bryan Everard Smith sold 7,400 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the completion of the sale, the executive vice president now owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $61.09 on Wednesday. The company has a market capitalization of $35.14 billion, a PE ratio of 28.95, a P/E/G ratio of 2.74 and a beta of 0.93. The company has a 50 day simple moving average of $59.63 and a two-hundred day simple moving average of $56.32. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01. Nasdaq, Inc. has a fifty-two week low of $46.88 and a fifty-two week high of $64.25.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Research analysts anticipate that Nasdaq, Inc. will post 2.76 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 13th. Nasdaq’s dividend payout ratio (DPR) is 41.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Edward Jones assumed coverage on shares of Nasdaq in a report on Wednesday, April 3rd. They issued a “buy” rating for the company. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $80.00 in a report on Tuesday, April 9th. UBS Group raised their price objective on shares of Nasdaq from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $82.00 price objective on shares of Nasdaq in a report on Thursday, February 1st. Finally, Piper Sandler raised their price objective on shares of Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.09.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.