QRG Capital Management Inc. Trims Stake in Nasdaq, Inc. $NDAQ

QRG Capital Management Inc. trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 48.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,417 shares of the financial services provider’s stock after selling 29,087 shares during the quarter. QRG Capital Management Inc.’s holdings in Nasdaq were worth $2,690,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Front Row Advisors LLC bought a new stake in shares of Nasdaq in the 2nd quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC bought a new position in Nasdaq in the second quarter worth about $27,000. Tripletail Wealth Management LLC acquired a new stake in Nasdaq in the third quarter valued at approximately $27,000. Access Investment Management LLC purchased a new stake in shares of Nasdaq during the 2nd quarter valued at $28,000. Finally, West Branch Capital LLC purchased a new position in Nasdaq during the 3rd quarter worth $29,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In related news, CEO Adena T. Friedman sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $96.39, for a total value of $28,917,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,924,903 shares of the company’s stock, valued at $185,541,400.17. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the sale, the executive vice president directly owned 84,974 shares in the company, valued at approximately $7,256,779.60. The trade was a 2.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 306,605 shares of company stock valued at $29,546,812. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Stock Up 0.6%

Nasdaq stock opened at $100.98 on Tuesday. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $101.79. The firm has a 50 day moving average price of $93.72 and a 200 day moving average price of $92.11. The company has a market capitalization of $57.66 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. Research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NDAQ shares. Barclays set a $115.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a report on Friday, January 9th. UBS Group reaffirmed a “buy” rating and set a $120.00 price target (up previously from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research note on Thursday, October 9th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $113.00 target price (up previously from $111.00) on shares of Nasdaq in a research report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $103.67.

About Nasdaq

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.