Eventide Asset Management LLC Has $59.70 Million Stock Holdings in Nasdaq, Inc. $NDAQ

Eventide Asset Management LLC raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 23.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 674,642 shares of the financial services provider’s stock after acquiring an additional 129,741 shares during the quarter. Nasdaq makes up 1.0% of Eventide Asset Management LLC’s portfolio, making the stock its 28th biggest position. Eventide Asset Management LLC’s holdings in Nasdaq were worth $59,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NDAQ. Bollard Group LLC increased its position in Nasdaq by 0.3% in the 3rd quarter. Bollard Group LLC now owns 72,906 shares of the financial services provider’s stock valued at $6,449,000 after buying an additional 221 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its stake in Nasdaq by 7.1% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 1,100,667 shares of the financial services provider’s stock worth $97,354,000 after buying an additional 73,412 shares during the period. Cinctive Capital Management LP boosted its holdings in Nasdaq by 1,939.4% in the third quarter. Cinctive Capital Management LP now owns 77,579 shares of the financial services provider’s stock worth $6,862,000 after acquiring an additional 73,775 shares in the last quarter. Community Bank N.A. acquired a new stake in Nasdaq in the third quarter valued at approximately $45,000. Finally, Clark Capital Management Group Inc. acquired a new stake in Nasdaq in the third quarter valued at approximately $1,230,000. Institutional investors own 72.47% of the company’s stock.

Insider Buying and Selling at Nasdaq

In other news, CEO Adena T. Friedman sold 92,840 shares of the company’s 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 $187,305,415.84. This represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Zecca sold 4,500 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president owned 125,674 shares of the company’s stock, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 697,340 shares of company stock valued at $66,803,072. Company insiders own 0.70% of the company’s stock.

Nasdaq Stock Up 1.7%

NDAQ stock opened at $85.53 on Friday. The firm has a market capitalization of $48.62 billion, a PE ratio of 27.68, a P/E/G ratio of 1.57 and a beta of 1.03. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79. The stock’s 50 day moving average is $90.63 and its 200-day moving average is $90.71.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $2.12 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.76 earnings per share. Sell-side analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s payout ratio is currently 34.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NDAQ shares. Argus upgraded Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Barclays reiterated an “overweight” rating and issued a $115.00 target price (up from $114.00) on shares of Nasdaq in a report on Friday, January 30th. Raymond James Financial restated an “outperform” rating and set a $109.00 price target on shares of Nasdaq in a research note on Wednesday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Morgan Stanley set a $116.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Nasdaq has an average rating of “Buy” and an average price target of $103.80.

About Nasdaq

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.