Dockside LLC Takes $5.41 Million Position in Nasdaq, Inc. $NDAQ

Dockside LLC acquired a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 55,739 shares of the financial services provider’s stock, valued at approximately $5,414,000. Nasdaq comprises approximately 1.4% of Dockside LLC’s portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of NDAQ. SOA Wealth Advisors LLC. acquired a new position in shares of Nasdaq during the 4th quarter valued at about $34,000. Nemes Rush Group LLC acquired a new position in shares of Nasdaq during the 4th quarter valued at about $35,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Nasdaq during the 4th quarter valued at about $37,000. Elyxium Wealth LLC acquired a new position in shares of Nasdaq during the 4th quarter valued at about $44,000. Finally, Community Bank N.A. acquired a new stake in Nasdaq during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

NDAQ has been the subject of a number of research analyst reports. Loop Capital set a $113.00 target price on shares of Nasdaq in a research report on Friday, April 24th. TD Cowen raised shares of Nasdaq from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $106.00 in a research report on Thursday, February 26th. Raymond James Financial reissued an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a research report on Wednesday, February 25th. Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a research report on Friday, April 24th. Finally, Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.36.

Insider Buying and Selling

In other Nasdaq news, SVP Michelle Lynn Daly sold 1,323 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the transaction, the senior vice president owned 10,089 shares in the company, valued at $896,104.98. This represents a 11.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adena T. Friedman sold 113,611 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $85.44, for a total value of $9,706,923.84. Following the completion of the transaction, the chief executive officer owned 1,965,751 shares of the company’s stock, valued at approximately $167,953,765.44. This represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 138,162 shares of company stock worth $11,932,913 in the last 90 days. 0.60% of the stock is owned by insiders.

Nasdaq Stock Up 2.6%

NDAQ opened at $88.98 on Friday. The company has a market cap of $50.32 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. Nasdaq, Inc. has a 1 year low of $77.09 and a 1 year high of $101.79. The firm has a 50 day moving average price of $88.88 and a 200 day moving average price of $90.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.Nasdaq’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. Sell-side analysts expect that Nasdaq, Inc. will post 3.86 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.31 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s dividend payout ratio (DPR) is currently 32.53%.

Nasdaq Company 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.