Renaissance Technologies LLC Has $52.57 Million Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Renaissance Technologies LLC boosted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 680,000 shares of the financial services provider’s stock after buying an additional 76,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Nasdaq were worth $52,571,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia lifted its stake in Nasdaq by 335.3% during the fourth quarter. Bank of Nova Scotia now owns 234,441 shares of the financial services provider’s stock worth $18,125,000 after purchasing an additional 180,579 shares during the last quarter. FIL Ltd lifted its position in Nasdaq by 87.4% in the 4th quarter. FIL Ltd now owns 410,212 shares of the financial services provider’s stock valued at $31,713,000 after acquiring an additional 191,259 shares in the last quarter. Invesco Ltd. lifted its position in Nasdaq by 40.3% in the 4th quarter. Invesco Ltd. now owns 3,902,214 shares of the financial services provider’s stock valued at $301,680,000 after acquiring an additional 1,120,538 shares in the last quarter. Wedbush Securities Inc. increased its stake in Nasdaq by 27.9% in the 4th quarter. Wedbush Securities Inc. now owns 3,665 shares of the financial services provider’s stock valued at $283,000 after buying an additional 800 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Nasdaq by 74.8% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 10,188 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 4,361 shares during the period. Institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Raymond James upped their price target on shares of Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. Oppenheimer raised their target price on shares of Nasdaq from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Piper Sandler increased their price target on shares of Nasdaq from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $98.00 in a research note on Wednesday, January 8th. Finally, UBS Group lifted their price target on shares of Nasdaq from $79.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and an average target price of $85.88.

Insider Activity at Nasdaq

In other news, EVP Bryan Everard Smith sold 657 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $71.81, for a total transaction of $47,179.17. Following the completion of the sale, the executive vice president now owns 61,980 shares of the company’s stock, valued at approximately $4,450,783.80. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sarah Youngwood sold 14,959 shares of Nasdaq stock in a transaction on Monday, March 17th. The stock was sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the completion of the transaction, the executive vice president now directly owns 59,694 shares of the company’s stock, valued at approximately $4,398,253.92. This represents a 20.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,116 shares of company stock worth $1,434,818. Company insiders own 0.70% of the company’s stock.

Nasdaq Stock Up 8.4 %

NDAQ stock opened at $71.99 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. Nasdaq, Inc. has a twelve month low of $58.10 and a twelve month high of $84.15. The company’s 50 day moving average is $77.24 and its two-hundred day moving average is $77.45. The stock has a market cap of $41.40 billion, a P/E ratio of 37.49, a PEG ratio of 2.12 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. Research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 1.33%. Nasdaq’s payout ratio is currently 50.00%.

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.