Sumitomo Mitsui DS Asset Management Company Ltd Cuts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,286 shares of the financial services provider’s stock after selling 9,771 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nasdaq were worth $3,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Seven Grand Managers LLC boosted its position in shares of Nasdaq by 1,900.0% during the third quarter. Seven Grand Managers LLC now owns 500,000 shares of the financial services provider’s stock worth $36,505,000 after acquiring an additional 475,000 shares during the last quarter. First Pacific Financial grew its holdings in Nasdaq by 1.0% during the 3rd quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 142 shares during the last quarter. Swedbank AB raised its holdings in shares of Nasdaq by 13.3% in the third quarter. Swedbank AB now owns 46,053 shares of the financial services provider’s stock worth $3,362,000 after buying an additional 5,415 shares during the period. Fruth Investment Management purchased a new stake in Nasdaq in the third quarter worth $219,000. Finally, Creative Planning increased its stake in Nasdaq by 6.8% in the 3rd quarter. Creative Planning now owns 54,917 shares of the financial services provider’s stock worth $4,010,000 after buying an additional 3,475 shares during the period. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the completion of the transaction, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Trading Up 1.0 %

Shares of NDAQ stock opened at $74.91 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. Nasdaq, Inc. has a twelve month low of $47.56 and a twelve month high of $74.93. The company’s 50-day moving average price is $72.02 and its 200-day moving average price is $65.27. The stock has a market cap of $43.09 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 2.99 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 EPS. As a group, equities analysts predict that Nasdaq, Inc. will post 2.75 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, September 13th. Nasdaq’s dividend payout ratio is presently 50.53%.

Analysts Set New Price Targets

Several analysts recently weighed in on NDAQ shares. Barclays lifted their price objective on Nasdaq from $77.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their target price on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group boosted their price target on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group increased their price target on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and an average price target of $79.07.

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.