Nasdaq, Inc. (NASDAQ:NDAQ) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 46,953 shares of the financial services provider’s stock after selling 262 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nasdaq were worth $2,730,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Signaturefd LLC grew its position in shares of Nasdaq by 13.9% in the fourth quarter. Signaturefd LLC now owns 6,118 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 747 shares during the period. Lindbrook Capital LLC boosted its position in Nasdaq by 158.5% during the fourth quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 553 shares during the last quarter. abrdn plc boosted its position in Nasdaq by 56.5% during the fourth quarter. abrdn plc now owns 148,299 shares of the financial services provider’s stock worth $8,622,000 after acquiring an additional 53,519 shares during the last quarter. Greenleaf Trust boosted its position in Nasdaq by 11.5% during the fourth quarter. Greenleaf Trust now owns 11,147 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 1,149 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Nasdaq during the fourth quarter worth about $210,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NDAQ. Piper Sandler boosted 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. UBS Group boosted 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. Citigroup boosted their price target on shares of Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 12th. Rosenblatt Securities restated a “buy” rating and set a $82.00 price target on shares of Nasdaq in a research report on Thursday, February 1st. Finally, Edward Jones began coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.09.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $61.09 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $35.14 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 2.80 and a beta of 0.93. The company’s 50-day moving average is $59.63 and its two-hundred day moving average is $56.32. Nasdaq, Inc. has a 1-year low of $46.88 and a 1-year high of $64.25.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. Nasdaq’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. Analysts forecast that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Announces Dividend

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

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.