OP Asset Management Ltd Purchases New Shares in Nasdaq, Inc. $NDAQ

OP Asset Management Ltd purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the first quarter, Holdings Channel.com reports. The firm purchased 47,991 shares of the financial services provider’s stock, valued at approximately $4,074,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. lifted its stake in Nasdaq by 7.8% during the fourth quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock valued at $149,000 after buying an additional 111 shares in the last quarter. ORG Wealth Partners LLC increased its position 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 in the last quarter. Independent Advisor Alliance increased its position in shares of Nasdaq by 2.6% in the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 117 shares in the last quarter. Orgel Wealth Management LLC raised its holdings in shares of Nasdaq by 4.7% during the fourth quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 118 shares during the period. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Nasdaq by 1.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 8,560 shares of the financial services provider’s stock valued at $831,000 after acquiring an additional 128 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Activity at Nasdaq

In related news, CEO Adena T. 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 completion of the sale, the chief executive officer directly owned 1,965,751 shares in the company, valued at approximately $167,953,765.44. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cohen Tal sold 15,518 shares of Nasdaq stock in a transaction 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 sale, the insider directly owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. The trade was a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 138,162 shares of company stock worth $11,932,913. 0.60% of the stock is currently owned by company insiders.

Nasdaq Price Performance

NASDAQ NDAQ opened at $78.56 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $44.43 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97. The company has a 50 day simple moving average of $88.21 and a 200-day simple moving average of $89.65. Nasdaq, Inc. has a 52-week low of $77.09 and a 52-week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities research analysts predict that Nasdaq, Inc. will post 3.87 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.31 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.6%. Nasdaq’s dividend payout ratio (DPR) is 37.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research note on Friday, April 24th. Barclays boosted their target price on shares of Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. TD Cowen reduced their target price on Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Loop Capital set a $113.00 target price on Nasdaq in a research report on Friday, April 24th. Finally, Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.79.

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.