Rafferty Asset Management LLC Boosts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Rafferty Asset Management LLC boosted its position in Nasdaq, Inc. (NASDAQ:NDAQFree Report) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,664 shares of the financial services provider’s stock after purchasing an additional 6,916 shares during the period. Rafferty Asset Management LLC’s holdings in Nasdaq were worth $7,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P purchased a new stake in shares of Nasdaq in the third quarter valued at approximately $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Nasdaq during the 4th quarter worth $29,000. Allworth Financial LP increased its holdings in shares of Nasdaq by 74.9% in the 4th quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 349 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Nasdaq by 158.5% during the fourth quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock worth $52,000 after buying an additional 553 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Nasdaq during the third quarter worth about $65,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 7,400 shares of the stock in a transaction that occurred 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 owns 61,672 shares of the company’s stock, valued at approximately $3,879,785.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction dated 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 owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan Everard Smith sold 7,400 shares of the company’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 value of $465,534.00. Following the transaction, the executive vice president now directly owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The disclosure for this sale can be found here. In the last three months, insiders sold 31,010,436 shares of company stock worth $1,798,647,360. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NDAQ. Keefe, Bruyette & Woods lowered their price target on Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Barclays dropped their price target on Nasdaq from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, March 26th. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $59.00 to $80.00 in a report on Tuesday, April 9th. Finally, Rosenblatt Securities downgraded shares of Nasdaq from a “buy” rating to a “neutral” rating and reduced their price target for the company from $76.00 to $64.00 in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.92.

View Our Latest Stock Report on Nasdaq

Nasdaq Price Performance

Nasdaq stock opened at $59.71 on Thursday. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $64.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a 50 day moving average price of $61.13 and a 200 day moving average price of $58.47. The company has a market cap of $34.35 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 3.22 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Sell-side analysts predict that Nasdaq, Inc. will post 2.68 earnings per share for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.61%. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, June 14th. Nasdaq’s dividend payout ratio is 46.32%.

About Nasdaq

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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