Nasdaq, Inc. $NDAQ Shares Sold by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. trimmed its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 87.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,810 shares of the financial services provider’s stock after selling 19,670 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Nasdaq were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NDAQ. Grove Bank & Trust increased its position in shares of Nasdaq by 194.6% during the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 216 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Nasdaq in the 1st quarter valued at about $26,000. Highline Wealth Partners LLC grew its position in Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 317 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Nasdaq in the 1st quarter valued at about $30,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total transaction of $201,006.45. Following the completion of the sale, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the sale, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $87.61 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The stock has a 50 day moving average of $93.31 and a two-hundred day moving average of $85.52. The stock has a market cap of $50.27 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.00 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.27 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s payout ratio is currently 41.54%.

Analyst Ratings Changes

Several research firms have weighed in on NDAQ. Citigroup reaffirmed a “neutral” rating on shares of Nasdaq in a research report on Wednesday, July 9th. Piper Sandler lifted their target price on Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research report on Saturday, September 27th. UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $96.00 target price (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.31.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.