Harmony Asset Management LLC Has $1.69 Million Stock Position in Nasdaq, Inc. $NDAQ

Harmony Asset Management LLC raised its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 39.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,925 shares of the financial services provider’s stock after acquiring an additional 5,635 shares during the quarter. Harmony Asset Management LLC’s holdings in Nasdaq were worth $1,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC raised its holdings in shares of Nasdaq by 3.0% in the first quarter. Sanctuary Advisors LLC now owns 85,066 shares of the financial services provider’s stock valued at $7,221,000 after purchasing an additional 2,478 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in Nasdaq by 14.0% during the first quarter. Checchi Capital Advisers LLC now owns 7,292 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 898 shares during the last quarter. Calamos Advisors LLC acquired a new position in Nasdaq during the first quarter worth $7,294,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Nasdaq by 13.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 28,715 shares of the financial services provider’s stock valued at $2,438,000 after purchasing an additional 3,431 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in Nasdaq by 43.4% in the first quarter. Chicago Partners Investment Group LLC now owns 8,647 shares of the financial services provider’s stock valued at $747,000 after purchasing an additional 2,616 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nasdaq news, EVP Bradley J. Peterson sold 7,710 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the transaction, the executive vice president owned 141,035 shares of the company’s stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michelle Lynn Daly sold 1,323 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,551 shares of company stock worth $2,225,990 in the last three months. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on NDAQ. TD Cowen cut their price target on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Loop Capital set a $113.00 price objective on Nasdaq in a report on Friday, April 24th. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Raymond James Financial reiterated an “outperform” rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Finally, Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of “Buy” and an average target price of $107.42.

Nasdaq Price Performance

Shares of NDAQ opened at $91.36 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $87.16 and its 200 day simple moving average is $88.76. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The company has a market cap of $51.67 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.41 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating 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 net margin of 23.15% and a return on equity of 17.51%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. On average, research analysts forecast that Nasdaq, Inc. will post 3.91 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, June 12th. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. Nasdaq’s dividend payout ratio is 37.35%.

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.