Nasdaq, Inc. (NASDAQ:NDAQ) Stake Reduced by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,901 shares of the financial services provider’s stock after selling 331 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Nasdaq were worth $750,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Outlook Wealth Advisors LLC acquired a new position in Nasdaq during the 4th quarter worth $214,000. Louisiana State Employees Retirement System purchased a new stake in shares of Nasdaq during the fourth quarter valued at $1,198,000. Simplicity Solutions LLC lifted its holdings in shares of Nasdaq by 10.2% during the fourth quarter. Simplicity Solutions LLC now owns 4,620 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 429 shares during the last quarter. Kanawha Capital Management LLC lifted its holdings in shares of Nasdaq by 1.2% during the fourth quarter. Kanawha Capital Management LLC now owns 88,485 shares of the financial services provider’s stock valued at $5,145,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Helios Capital Management PTE. Ltd. acquired a new position in Nasdaq during the fourth quarter valued at $985,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NDAQ shares. Oppenheimer upped their target price on Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays began coverage on Nasdaq in a research report on Thursday, April 11th. They issued an “overweight” rating and a $76.00 target price on the stock. StockNews.com upgraded Nasdaq from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Citigroup upped their price target on Nasdaq from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Finally, Piper Sandler upped their price target on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and eight have assigned 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.

Insider Activity at Nasdaq

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bryan Everard Smith sold 7,400 shares of Nasdaq stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the completion of the sale, the executive vice president now directly owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

Nasdaq Trading Down 2.2 %

Shares of NDAQ opened at $60.19 on Tuesday. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $64.25. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of $59.17 and a 200-day simple moving average of $55.82. The stock has a market cap of $34.62 billion, a PE ratio of 28.53, a PEG ratio of 2.80 and a beta of 0.93.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm posted $0.64 EPS. Nasdaq’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts predict that Nasdaq, Inc. will post 2.75 EPS 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 issued 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 1.46%. Nasdaq’s dividend payout ratio is 41.71%.

Nasdaq 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.