Sumitomo Mitsui DS Asset Management Company Ltd Sells 262 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,953 shares of the financial services provider’s stock after selling 262 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nasdaq were worth $2,730,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Nasdaq during the fourth quarter valued at about $29,000. Loomis Sayles & Co. L P bought a new stake in Nasdaq during the third quarter valued at about $26,000. Carmel Capital Partners LLC bought a new stake in Nasdaq during the third quarter valued at about $32,000. Allworth Financial LP raised its holdings in Nasdaq by 74.9% during the fourth quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 349 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in Nasdaq by 158.5% during the fourth quarter. Lindbrook Capital LLC now owns 902 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 553 shares during the period. 72.47% of the stock is owned by institutional investors.

Nasdaq Price Performance

Nasdaq stock opened at $61.09 on Wednesday. The stock has a market cap of $35.14 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.80 and a beta of 0.93. The firm has a 50-day moving average of $59.63 and a two-hundred day moving average of $56.32. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $64.25. 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 issued its 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 net margin of 17.48% and a return on equity of 19.28%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. On average, research analysts forecast that Nasdaq, Inc. will post 2.75 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 13th. Nasdaq’s dividend payout ratio (DPR) is presently 41.71%.

Insider Transactions at Nasdaq

In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the transaction, the insider now directly owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Bryan Everard Smith sold 7,400 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the transaction, the executive vice president now directly owns 61,672 shares in the company, valued at $3,879,785.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following 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. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NDAQ shares. Piper Sandler boosted their price objective on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. UBS Group boosted their price objective on Nasdaq from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Edward Jones started coverage on Nasdaq in a research note on Wednesday, April 3rd. They set a “buy” rating on the stock. Morgan Stanley raised Nasdaq from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $82.00 price objective on shares of Nasdaq 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.09.

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.