Key Points
- Nasdaq CEO Adena Friedman sold 113,611 shares on April 1 at an average price of $85.44 for a total of $9,706,923.84; the sale—executed under a pre-arranged Rule 10b5-1 plan—reduced her stake by 5.46% to 1,965,751 shares.
- Nasdaq reported stronger-than-expected results, with quarterly EPS of $0.96 versus $0.92 expected and revenue of $2.12 billion, up 13.4% year-over-year.
- The company paid a quarterly dividend of $0.27 (annualized $1.08, about a 1.2% yield) and analysts hold an average Buy rating with a consensus target price of $103.71.
Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) CEO Adena Friedman sold 113,611 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the transaction, the chief executive officer owned 1,965,751 shares of the company's stock, valued at $167,953,765.44. The trade was a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nasdaq Stock Up 1.8%
Shares of NDAQ stock opened at $86.65 on Friday. The firm's fifty day moving average price is $86.57 and its two-hundred day moving average price is $89.82. The company has a current ratio of 1.01, a quick ratio of 1.01 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 market capitalization of $49.26 billion, a P/E ratio of 28.04, a PEG ratio of 1.56 and a beta of 1.02.
Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The company's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. On average, equities analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.
Nasdaq Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, March 16th. Nasdaq's dividend payout ratio (DPR) is currently 34.95%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Nasdaq in a research note on Friday, January 9th. UBS Group reissued a "buy" rating and issued a $120.00 target price (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. Morgan Stanley set a $116.00 target price on shares of Nasdaq and gave the stock an "overweight" rating in a report on Friday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Nasdaq from $100.00 to $101.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Finally, Barclays reissued an "overweight" rating and issued a $115.00 price objective (up from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $103.71.
Get Our Latest Stock Report on NDAQ
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Nasdaq by 41.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,090 shares of the financial services provider's stock worth $6,819,000 after purchasing an additional 22,685 shares during the period. National Pension Service boosted its stake in Nasdaq by 3.3% in the 3rd quarter. National Pension Service now owns 605,551 shares of the financial services provider's stock valued at $53,561,000 after purchasing an additional 19,078 shares during the period. Vanguard Group Inc. grew its holdings in Nasdaq by 6.9% in the 3rd quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider's stock valued at $5,275,902,000 after buying an additional 3,848,406 shares in the last quarter. Cibc World Market Inc. grew its holdings in Nasdaq by 162.1% in the 3rd quarter. Cibc World Market Inc. now owns 25,447 shares of the financial services provider's stock valued at $2,251,000 after buying an additional 15,739 shares in the last quarter. Finally, Swedbank AB increased its position in Nasdaq by 74.4% during the 3rd quarter. Swedbank AB now owns 82,068 shares of the financial services provider's stock worth $7,259,000 after buying an additional 35,015 shares during the period. 72.47% of the stock is owned by institutional investors and hedge funds.
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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