Korea Investment CORP Sells 20,034 Shares of Nasdaq, Inc. $NDAQ

Korea Investment CORP trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,334 shares of the financial services provider’s stock after selling 20,034 shares during the period. Korea Investment CORP owned about 0.05% of Nasdaq worth $26,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of Nasdaq in the second quarter valued at approximately $653,000. Elevation Point Wealth Partners LLC increased its holdings in Nasdaq by 3.9% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 7,178 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 268 shares during the period. Quadrant Capital Group LLC raised its position in Nasdaq by 31.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 13,945 shares of the financial services provider’s stock valued at $1,247,000 after purchasing an additional 3,322 shares in the last quarter. Vinva Investment Management Ltd purchased a new stake in shares of Nasdaq in the 2nd quarter worth $2,327,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Nasdaq by 26.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 350,565 shares of the financial services provider’s stock worth $31,336,000 after buying an additional 73,704 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Up 1.0%

NASDAQ:NDAQ opened at $90.85 on Friday. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The stock has a market capitalization of $51.87 billion, a P/E ratio of 32.45, a P/E/G ratio of 1.79 and a beta of 0.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. The company’s 50-day simple moving average is $87.97 and its 200-day simple moving average is $89.27.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. Nasdaq’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. On average, equities analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s payout ratio is presently 38.57%.

Insider Activity

In other news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president owned 84,974 shares in the company, valued at $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a report on Thursday, October 9th. Cowen reiterated a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. Piper Sandler raised their target price on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Barclays set a $109.00 price target on shares of Nasdaq and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen increased their price objective on shares of Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

About Nasdaq

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.