Insider Selling: Nasdaq (NASDAQ:NDAQ) Insider Sells 6,777 Shares

Nasdaq, Inc. (NASDAQ:NDAQ) insider Pc Nelson Griggs sold 6,777 shares of Nasdaq stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.53, for a total value of $627,075.81. Following the transaction, the insider owned 227,021 shares in the company, valued at approximately $21,006,253.13. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Pc Nelson Griggs also recently made the following trade(s):

• On Monday, July 27th, Pc Nelson Griggs sold 11,010 shares of Nasdaq stock. The shares were sold at an average price of $93.96, for a total value of $1,034,499.60.

Nasdaq Price Performance

NDAQ stock traded up $2.02 during trading hours on Tuesday, hitting $95.96. 4,138,435 shares of the stock traded hands, compared to its average volume of 4,098,726. The stock has a 50-day simple moving average of $87.46 and a 200 day simple moving average of $88.40. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The company has a market cap of $53.64 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.43 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the company earned $0.85 earnings per share. Nasdaq’s revenue was up 14.9% compared to the same quarter last year. Equities analysts forecast that Nasdaq, Inc. will post 4.03 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s payout ratio is currently 36.15%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NDAQ. Empowered Funds LLC raised its holdings in shares of Nasdaq by 3.8% during the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock valued at $1,106,000 after acquiring an additional 538 shares during the period. Woodline Partners LP lifted its position in shares of Nasdaq by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock valued at $2,652,000 after acquiring an additional 10,110 shares in the last quarter. Focus Partners Wealth boosted its stake in Nasdaq by 22.0% in the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after purchasing an additional 2,584 shares during the period. Geneos Wealth Management Inc. boosted its stake in Nasdaq by 345.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 463 shares during the period. Finally, Guggenheim Capital LLC grew its position in Nasdaq by 4.4% during the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 481 shares in the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on NDAQ shares. Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $92.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. TD Cowen reiterated a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Loop Capital set a $113.00 price objective on Nasdaq in a research note on Friday, April 24th. Finally, Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Nasdaq presently has a consensus rating of “Buy” and an average target price of $109.73.

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.