Nasdaq, Inc. $NDAQ Shares Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC boosted its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 2,057.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,372 shares of the financial services provider’s stock after buying an additional 89,997 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Nasdaq were worth $8,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NDAQ. Quantum Portfolio Management LLC raised its position in shares of Nasdaq by 1.8% during the 1st quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock valued at $606,000 after acquiring an additional 123 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in Nasdaq by 2.5% during the 1st quarter. Arkadios Wealth Advisors now owns 5,643 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 137 shares during the period. AlphaCentric Advisors LLC grew its holdings in Nasdaq by 5.9% in the 1st quarter. AlphaCentric Advisors LLC now owns 2,603 shares of the financial services provider’s stock worth $221,000 after buying an additional 145 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of Nasdaq by 1.7% in the second quarter. Brown Lisle Cummings Inc. now owns 8,815 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 151 shares in the last quarter. Finally, Hunter Associates Investment Management LLC increased its stake in Nasdaq by 1.0% during the 1st quarter. Hunter Associates Investment Management LLC now owns 15,150 shares of the financial services provider’s stock valued at $1,285,000 after buying an additional 153 shares during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Stock Performance

Shares of NDAQ stock traded up $1.44 during trading on Thursday, reaching $93.40. The company had a trading volume of 1,054,430 shares, compared to its average volume of 3,781,490. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $94.72 and its two-hundred day simple moving average is $90.50. The company has a market capitalization of $52.21 billion, a PE ratio of 27.23, a PEG ratio of 1.67 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Nasdaq, Inc. will post 4.13 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is 36.15%.

More Nasdaq News

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq completed its acquisition of LeveL Markets, one of the largest U.S. alternative trading systems. The deal expands Nasdaq’s marketplace, improves access to liquidity and supports its strategy of enabling more continuous, global trading. Nasdaq Completes Acquisition of LeveL Markets
• Positive Sentiment: Investors are positioned ahead of next week’s quarterly report, with Zacks highlighting earnings-growth expectations and factors that could support another earnings beat. Nasdaq’s latest reported quarter showed year-over-year revenue growth and earnings above consensus. Nasdaq Earnings Expectations
• Positive Sentiment: J.P. Morgan maintained a bullish view with a Buy rating, while Deutsche Bank raised its price target to $116 and retained its Buy rating. The reported target implies meaningful upside from recent trading levels. J.P. Morgan Buy Rating Deutsche Bank Price Target Increase
• Neutral Sentiment: Nasdaq’s index business is gaining traction, with index revenue growth accelerating sharply in the second quarter. However, asset-based licensing revenue is also sensitive to market levels and investor inflows, creating a risk if markets weaken. Nasdaq Index Growth Analysis
• Neutral Sentiment: Wells Fargo initiated coverage with a Hold rating and a $100 price target, providing a more cautious counterpoint to the bullish analyst revisions. Wells Fargo Hold Rating
• Negative Sentiment: Executive Vice President Jeremy Skule sold 1,125 shares for approximately $105,900. The sale reduced his holdings by 1.14%, although he continues to own a substantial position and the transaction is relatively small compared with Nasdaq’s market value. Nasdaq Executive Share Sale

Insider Activity

In other news, EVP Jeremy Skule sold 1,125 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $94.13, for a total value of $105,896.25. Following the completion of the sale, the executive vice president directly owned 97,686 shares of the company’s stock, valued at approximately $9,195,183.18. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradley Peterson sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the transaction, the executive vice president owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 45,172 shares of company stock valued at $4,245,088. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Nasdaq from $114.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 8th. Raymond James Financial decreased their target price on Nasdaq from $119.00 to $109.00 in a research report on Friday, October 9th. TD Cowen dropped their price objective on shares of Nasdaq from $108.00 to $107.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group lifted their price target on Nasdaq from $108.00 to $109.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Finally, Barclays restated an “overweight” rating and set a $109.00 price target (down from $111.00) on shares of Nasdaq in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.83.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.