Allspring Global Investments Holdings LLC Sells 587 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Allspring Global Investments Holdings LLC reduced its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,814 shares of the financial services provider’s stock after selling 587 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Nasdaq were worth $978,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NDAQ. CWM LLC lifted its holdings in Nasdaq by 6.5% during the 3rd quarter. CWM LLC now owns 11,683 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 714 shares during the last quarter. HB Wealth Management LLC bought a new position in Nasdaq during the 3rd quarter valued at about $232,000. Naples Global Advisors LLC lifted its holdings in Nasdaq by 9.1% during the 3rd quarter. Naples Global Advisors LLC now owns 7,170 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 600 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in Nasdaq by 5.3% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 18,195 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 918 shares in the last quarter. Finally, LGT Capital Partners LTD. increased its position in Nasdaq by 73.9% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,790 shares of the financial services provider’s stock valued at $25,985,000 after acquiring an additional 227,190 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Nasdaq Stock Down 0.2 %

Shares of NASDAQ NDAQ opened at $61.09 on Wednesday. The stock has a market cap of $35.14 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.74 and a beta of 0.93. The firm has a 50 day moving average price of $59.63 and a 200 day moving average price of $56.32. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01. Nasdaq, Inc. has a 52-week low of $46.88 and a 52-week high of $64.25.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis. Analysts expect that Nasdaq, Inc. will post 2.76 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Wednesday, March 13th. Nasdaq’s payout ratio is currently 41.71%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $80.00 in a research report on Tuesday, April 9th. Piper Sandler lifted their price target on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Rosenblatt Securities reiterated a “buy” rating and set a $82.00 price target on shares of Nasdaq in a research report on Thursday, February 1st. Oppenheimer lifted their price target on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, UBS Group lifted their price target on shares of Nasdaq from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Nasdaq has an average rating of “Moderate Buy” and a consensus target price of $67.09.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Nasdaq news, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the transaction, the insider now directly owns 58,341,545 shares in the company, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Nasdaq 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.