Sequoia Financial Advisors LLC Invests $2.95 Million in Nasdaq, Inc. (NASDAQ:NDAQ)

Sequoia Financial Advisors LLC acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 50,656 shares of the financial services provider’s stock, valued at approximately $2,945,000.

Other institutional investors have also made changes to their positions in the company. RB Capital Management LLC increased its stake in Nasdaq by 15.9% during the first quarter. RB Capital Management LLC now owns 3,264 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 448 shares during the period. American Century Companies Inc. increased its stake in Nasdaq by 10.2% during the first quarter. American Century Companies Inc. now owns 2,209 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 205 shares during the period. Raymond James Trust N.A. increased its stake in Nasdaq by 14.1% during the first quarter. Raymond James Trust N.A. now owns 3,932 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 487 shares during the period. Sei Investments Co. increased its stake in Nasdaq by 8.4% during the first quarter. Sei Investments Co. now owns 136,395 shares of the financial services provider’s stock valued at $24,319,000 after acquiring an additional 10,623 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Nasdaq by 32.0% during the first quarter. Allianz Asset Management GmbH now owns 316,344 shares of the financial services provider’s stock valued at $56,373,000 after acquiring an additional 76,603 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of several research reports. Edward Jones initiated coverage on Nasdaq in a research note on Wednesday, April 3rd. They set a “buy” rating on the stock. UBS Group boosted their price target on Nasdaq from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group raised Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Tuesday, March 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $82.00 price objective on shares of Nasdaq in a report on Thursday, February 1st. Finally, Oppenheimer lifted their price objective on Nasdaq from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.09.

Nasdaq Stock Up 0.1 %

NASDAQ NDAQ opened at $63.06 on Friday. The firm has a market cap of $36.27 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $64.25. The stock’s 50 day simple moving average is $58.98 and its 200 day simple moving average is $55.55. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.01 and a quick ratio of 1.01.

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

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.40%. Nasdaq’s dividend payout ratio (DPR) is presently 41.71%.

Insider Buying and Selling

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the 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 approximately $3,383,809,610. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Nasdaq news, EVP Bryan Everard Smith sold 7,400 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $62.91, for a total value of $465,534.00. Following the transaction, the executive vice president now directly owns 61,672 shares in the company, valued at approximately $3,879,785.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 58,341,545 shares in the company, valued at $3,383,809,610. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

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.