Key Points
- CEO Adena Friedman sold 92,840 shares on March 6 at an average price of $90.08 for about $8.36 million, trimming her stake by 4.27% to 2,079,323 shares (≈$187.3M).
- Nasdaq beat quarterly estimates, reporting $0.96 EPS vs. $0.92 expected and revenue of $2.12 billion (up 13.4% year-over-year) versus $1.37 billion consensus.
- The company declared a quarterly dividend of $0.27 (annualized $1.08, 1.2% yield; ex-dividend March 16), and Street analysts have a consensus rating of "Buy" with an average price target of $103.80.
Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) CEO Adena Friedman sold 92,840 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $90.08, for a total value of $8,363,027.20. Following the completion of the sale, the chief executive officer owned 2,079,323 shares in the company, valued at approximately $187,305,415.84. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Nasdaq Trading Down 0.5%
NASDAQ:NDAQ opened at $87.60 on Wednesday. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $101.79. The firm has a market cap of $49.80 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.03. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $91.35 and a 200 day moving average price of $90.89.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.Nasdaq's revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. Sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.
Nasdaq Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, March 16th. Nasdaq's dividend payout ratio is presently 34.95%.
Institutional Investors Weigh In On Nasdaq
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC lifted its position in shares of Nasdaq by 2.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider's stock valued at $441,000 after acquiring an additional 110 shares during the period. NBC Securities Inc. increased its position in Nasdaq by 7.8% during the fourth quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider's stock worth $149,000 after buying an additional 111 shares in the last quarter. ORG Wealth Partners LLC raised its holdings in shares of Nasdaq by 6.9% in the fourth quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider's stock worth $170,000 after acquiring an additional 112 shares during the last quarter. Independent Advisor Alliance increased its position in Nasdaq by 2.6% during the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider's stock worth $444,000 after purchasing an additional 117 shares in the last quarter. Finally, Orgel Wealth Management LLC lifted its holdings in Nasdaq by 4.7% in the 4th quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on NDAQ shares. Argus upgraded shares of Nasdaq to a "strong-buy" rating in a research note on Wednesday, February 11th. Barclays reaffirmed an "overweight" rating and set a $115.00 price objective (up from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. Morgan Stanley set a $116.00 target price on shares of Nasdaq and gave the stock an "overweight" rating in a research note on Friday, January 30th. JPMorgan Chase & Co. raised their price target on Nasdaq from $100.00 to $101.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Nasdaq in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $103.80.
Check Out Our Latest Report on Nasdaq
About Nasdaq
(
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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