GAMMA Investing LLC Acquires 925 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

GAMMA Investing LLC boosted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,290 shares of the financial services provider’s stock after acquiring an additional 925 shares during the quarter. GAMMA Investing LLC’s holdings in Nasdaq were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NDAQ. Loomis Sayles & Co. L P bought a new position in Nasdaq during the third quarter valued at approximately $26,000. Kestra Advisory Services LLC raised its position in shares of Nasdaq by 38.8% in the third quarter. Kestra Advisory Services LLC now owns 36,631 shares of the financial services provider’s stock valued at $1,780,000 after purchasing an additional 10,243 shares during the period. Rafferty Asset Management LLC raised its position in shares of Nasdaq by 4.7% in the third quarter. Rafferty Asset Management LLC now owns 113,748 shares of the financial services provider’s stock valued at $5,527,000 after purchasing an additional 5,107 shares during the period. QRG Capital Management Inc. bought a new position in shares of Nasdaq in the third quarter valued at approximately $3,478,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Nasdaq by 34.7% in the third quarter. Envestnet Asset Management Inc. now owns 2,070,450 shares of the financial services provider’s stock valued at $100,603,000 after purchasing an additional 533,086 shares during the period. Institutional investors own 72.47% of the company’s stock.

Insiders Place Their Bets

In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total transaction of $181,826.04. Following the completion of the sale, the executive vice president now directly owns 58,636 shares of the company’s stock, valued at approximately $3,511,710.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Bryan Everard Smith sold 3,036 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total value of $181,826.04. Following the sale, the executive vice president now directly owns 58,636 shares in the company, valued at approximately $3,511,710.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The disclosure for this sale can be found here. In the last three months, insiders sold 31,010,436 shares of company stock valued at $1,798,647,360. 0.70% of the stock is currently owned by insiders.

Nasdaq Stock Performance

Nasdaq stock opened at $58.99 on Thursday. The stock has a 50-day simple moving average of $60.41 and a 200 day simple moving average of $58.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.90. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $64.25. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 3.20 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, research analysts anticipate that Nasdaq, Inc. will post 2.68 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.24 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, June 14th. Nasdaq’s payout ratio is currently 50.53%.

Analysts Set New Price Targets

NDAQ has been the topic of several research analyst reports. Argus raised their price objective on shares of Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. The Goldman Sachs Group upgraded shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Tuesday, March 26th. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. Rosenblatt Securities downgraded shares of Nasdaq from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $76.00 to $64.00 in a research note on Wednesday, May 8th. Finally, Barclays decreased their price target on shares of Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Nasdaq Company 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.