Key Points
- Insider sale: CEO Adena Friedman sold 300,000 shares on January 2 at an average price of $96.39 for about $28.9 million, trimming her stake by 13.48% to 1,924,903 shares (valued ~ $185.5M); the sale was disclosed in an SEC filing.
- Recent results: Nasdaq beat Q3 expectations with $0.88 EPS vs. $0.82 expected and revenue of $1.32 billion (up 14.7% year-over-year); the company has a $57.49 billion market cap and a P/E of 35.96, with a 52-week range of $64.84–$100.85.
- Dividend and analyst view: Nasdaq pays a $0.27 quarterly dividend ($1.08 annualized, ~1.1% yield, DPR 38.6%), and analysts have an average rating of "Moderate Buy" with a mean price target of $101.40.
Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) CEO Adena Friedman sold 300,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 1,924,903 shares in the company, valued at $185,541,400.17. The trade was a 13.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Nasdaq Stock Performance
Shares of Nasdaq stock opened at $100.69 on Wednesday. The firm has a market capitalization of $57.49 billion, a P/E ratio of 35.96, a PEG ratio of 1.59 and a beta of 1.01. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $100.85. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $91.25 and a 200 day moving average price of $91.40.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Nasdaq's revenue for the quarter was up 14.7% compared to the same quarter last year. Sell-side analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.
Nasdaq Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.27 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Nasdaq's dividend payout ratio (DPR) is 38.57%.
Institutional Trading of Nasdaq
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Nasdaq by 102.0% during the 1st quarter. AQR Capital Management LLC now owns 334,533 shares of the financial services provider's stock valued at $24,949,000 after acquiring an additional 168,916 shares during the period. Alliancebernstein L.P. grew its holdings in Nasdaq by 1.1% in the first quarter. Alliancebernstein L.P. now owns 450,884 shares of the financial services provider's stock valued at $34,204,000 after purchasing an additional 4,754 shares during the period. NewEdge Advisors LLC grew its holdings in Nasdaq by 113.3% in the first quarter. NewEdge Advisors LLC now owns 31,143 shares of the financial services provider's stock valued at $2,362,000 after purchasing an additional 16,542 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in shares of Nasdaq by 1.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 52,929 shares of the financial services provider's stock valued at $4,015,000 after buying an additional 634 shares in the last quarter. Finally, Scientech Research LLC acquired a new position in shares of Nasdaq during the 1st quarter worth approximately $853,000. Institutional investors and hedge funds own 72.47% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on NDAQ. Cowen restated a "hold" rating on shares of Nasdaq in a research note on Wednesday, October 22nd. TD Cowen raised their price target on shares of Nasdaq from $94.00 to $96.00 and gave the stock a "hold" rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Nasdaq in a report on Tuesday, October 14th. Barclays reissued an "overweight" rating and set a $114.00 target price (up previously from $109.00) on shares of Nasdaq in a report on Friday, December 12th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $108.00 price target on shares of Nasdaq in a report on Thursday, October 9th. Fourteen research 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, Nasdaq presently has an average rating of "Moderate Buy" and an average price target of $101.40.
Read Our Latest Stock Analysis on Nasdaq
Nasdaq Company Profile
(
Get Free Report)
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.
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