International Assets Investment Management LLC Trims Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

International Assets Investment Management LLC lessened its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 78.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,814 shares of the financial services provider’s stock after selling 39,795 shares during the period. International Assets Investment Management LLC’s holdings in Nasdaq were worth $629,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in Nasdaq by 48.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 428,643 shares of the financial services provider’s stock valued at $20,828,000 after purchasing an additional 140,286 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in Nasdaq by 10.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 446,910 shares of the financial services provider’s stock valued at $21,715,000 after purchasing an additional 43,910 shares during the period. ING Groep NV increased its holdings in Nasdaq by 6.9% during the 3rd quarter. ING Groep NV now owns 53,838 shares of the financial services provider’s stock valued at $2,616,000 after purchasing an additional 3,455 shares during the period. Braun Stacey Associates Inc. increased its holdings in Nasdaq by 29.5% during the 4th quarter. Braun Stacey Associates Inc. now owns 365,494 shares of the financial services provider’s stock valued at $21,250,000 after purchasing an additional 83,227 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Nasdaq by 1.8% during the 4th quarter. Nordea Investment Management AB now owns 2,326,799 shares of the financial services provider’s stock valued at $135,396,000 after purchasing an additional 40,215 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays initiated coverage on Nasdaq in a report on Thursday, April 11th. They set an “overweight” rating and a $76.00 price target on the stock. Piper Sandler upped their target price on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Morgan Stanley upgraded Nasdaq from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $59.00 to $80.00 in a report on Tuesday, April 9th. Oppenheimer upped their target price on Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $82.00 target price on shares of Nasdaq in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.09.

Nasdaq Stock Performance

Nasdaq stock opened at $61.50 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $35.38 billion, a P/E ratio of 29.15, a PEG ratio of 2.80 and a beta of 0.93. The stock’s 50 day moving average is $59.74 and its 200 day moving average is $56.36. Nasdaq, Inc. has a twelve month low of $46.88 and a twelve month high of $64.25.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. On average, equities research analysts predict that Nasdaq, Inc. will post 2.75 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.22 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.88 annualized dividend and a yield of 1.43%. Nasdaq’s dividend payout ratio (DPR) is presently 41.71%.

Insider Activity at Nasdaq

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

Nasdaq 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.