Envestnet Asset Management Inc. Has $235.61 Million Position in Nasdaq, Inc. $NDAQ

Envestnet Asset Management Inc. cut its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,663,780 shares of the financial services provider’s stock after selling 25,416 shares during the quarter. Envestnet Asset Management Inc. owned 0.47% of Nasdaq worth $235,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NDAQ. Cary Street Partners Investment Advisory LLC lifted its position in shares of Nasdaq by 2.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 110 shares during the period. Leavell Investment Management Inc. raised its stake in shares of Nasdaq by 0.4% in the second quarter. Leavell Investment Management Inc. now owns 26,156 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 116 shares in the last quarter. Fielder Capital Group LLC lifted its position in Nasdaq by 3.0% in the second quarter. Fielder Capital Group LLC now owns 4,253 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 122 shares during the period. Freedom Investment Management Inc. boosted its stake in Nasdaq by 2.3% during the second quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider’s stock worth $508,000 after buying an additional 128 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its stake in Nasdaq by 3.4% during the second quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock worth $355,000 after buying an additional 129 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NDAQ. JPMorgan Chase & Co. increased their price objective on shares of Nasdaq from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Barclays reissued an “overweight” rating and issued a $115.00 price target (up previously from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. UBS Group reaffirmed a “buy” rating and set a $120.00 price objective (up from $115.00) on shares of Nasdaq in a report on Monday, January 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. Finally, TD Cowen raised their target price on Nasdaq from $104.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.13.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $85.51 on Friday. The stock has a market capitalization of $48.83 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.70. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $101.79. The firm has a 50 day moving average of $95.76 and a 200-day moving average of $92.62.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.Nasdaq’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. As a group, sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, March 16th. This represents a $1.08 annualized dividend and a yield of 1.3%. Nasdaq’s dividend payout ratio is 34.95%.

Insider Activity

In other news, CEO Adena T. Friedman sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $96.39, for a total transaction of $28,917,000.00. Following the transaction, the chief executive officer directly owned 1,924,903 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, EVP John Zecca sold 4,500 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the sale, the executive vice president directly owned 125,674 shares in the company, valued at $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 604,500 shares of company stock worth $58,440,045. 0.70% of the stock is owned by corporate insiders.

Nasdaq Company Profile

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.