16,035 Shares in Nasdaq, Inc. $NDAQ Purchased by Allstate Corp

Allstate Corp purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,035 shares of the financial services provider’s stock, valued at approximately $1,418,000.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE lifted its holdings in Nasdaq by 35.9% in the second quarter. US Bancorp DE now owns 64,153 shares of the financial services provider’s stock valued at $5,737,000 after buying an additional 16,950 shares during the period. 111 Capital raised its position in shares of Nasdaq by 67.0% during the 2nd quarter. 111 Capital now owns 11,089 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 4,450 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Nasdaq by 53.1% during the 2nd quarter. QRG Capital Management Inc. now owns 59,504 shares of the financial services provider’s stock valued at $5,321,000 after acquiring an additional 20,637 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new position in shares of Nasdaq in the 2nd quarter worth $1,511,000. Finally, Swedbank AB grew its stake in shares of Nasdaq by 74.4% during the third quarter. Swedbank AB now owns 82,068 shares of the financial services provider’s stock worth $7,259,000 after purchasing an additional 35,015 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In other Nasdaq news, CEO Adena T. Friedman sold 300,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,924,903 shares of the company’s stock, valued at $185,541,400.17. The trade was a 13.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $85.40, for a total value of $179,767.00. Following the completion of the transaction, the executive vice president owned 84,974 shares of the company’s stock, valued at $7,256,779.60. The trade was a 2.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 306,605 shares of company stock valued at $29,546,812 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Down 3.5%

NASDAQ:NDAQ opened at $97.41 on Wednesday. The stock has a 50-day simple moving average of $93.91 and a 200 day simple moving average of $92.16. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $101.79. The company has a market cap of $55.62 billion, a PE ratio of 34.79, a PEG 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 released its earnings results 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 firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, sell-side analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. TD Cowen increased their target price on Nasdaq from $96.00 to $104.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of Nasdaq from $111.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $113.00 target price (up previously from $111.00) on shares of Nasdaq in a research note on Thursday, January 15th. Cowen reissued a “hold” rating on shares of Nasdaq in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a research note on Thursday, October 9th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.