Assetmark Inc. Raises Position in Nasdaq, Inc. $NDAQ

Assetmark Inc. increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,177 shares of the financial services provider’s stock after purchasing an additional 6,254 shares during the quarter. Assetmark Inc.’s holdings in Nasdaq were worth $10,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MV Capital Management Inc. purchased a new position in Nasdaq during the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Nasdaq in the fourth quarter worth $34,000. Nemes Rush Group LLC purchased a new stake in shares of Nasdaq in the fourth quarter worth $35,000. Uniplan Investment Counsel Inc. purchased a new stake in Nasdaq in the 4th quarter worth $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Activity

In other Nasdaq news, EVP Bradley J. Peterson sold 7,710 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total value of $700,222.20. Following the completion of the sale, the executive vice president owned 141,035 shares of the company’s stock, valued at $12,808,798.70. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cohen Tal sold 15,518 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $90.75, for a total value of $1,408,258.50. Following the transaction, the insider directly owned 215,208 shares in the company, valued at approximately $19,530,126. This represents a 6.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,551 shares of company stock worth $2,225,990 over the last 90 days. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

NDAQ has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Barclays lowered their target price on shares of Nasdaq from $114.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research note on Wednesday, April 22nd. Finally, Morgan Stanley decreased their target price on Nasdaq from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $108.00.

Nasdaq Stock Up 0.3%

Shares of NASDAQ NDAQ opened at $91.87 on Tuesday. The firm’s 50-day moving average price is $87.39 and its 200-day moving average price is $88.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $51.96 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 1.46 and a beta of 0.99. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The firm’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. On average, equities research analysts anticipate that Nasdaq, Inc. will post 3.92 EPS for the current fiscal year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, June 12th. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s payout ratio is currently 37.35%.

Nasdaq 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.