Point72 Asset Management L.P. Increases Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Point72 Asset Management L.P. raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 24.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,254,998 shares of the financial services provider’s stock after buying an additional 248,503 shares during the quarter. Point72 Asset Management L.P. owned about 0.22% of Nasdaq worth $75,626,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Thoma Bravo L.P. acquired a new position in shares of Nasdaq during the fourth quarter valued at about $4,166,454,000. Vanguard Group Inc. lifted its stake in shares of Nasdaq by 7.0% during the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after buying an additional 3,173,981 shares during the period. Farallon Capital Management LLC lifted its position in Nasdaq by 28.4% during the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after acquiring an additional 1,866,219 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Nasdaq by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock valued at $287,270,000 after purchasing an additional 94,122 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Nasdaq by 26.5% in the first quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock valued at $181,609,000 after purchasing an additional 602,040 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Performance

NDAQ opened at $73.67 on Wednesday. The company has a market cap of $42.43 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 3.04 and a beta of 0.95. The firm’s fifty day simple moving average is $69.51 and its two-hundred day simple moving average is $63.83. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. Nasdaq, Inc. has a 52-week low of $46.88 and a 52-week high of $74.88.

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

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.30%. Nasdaq’s payout ratio is 50.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Oppenheimer raised their price target on shares of Nasdaq from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Bank of America raised shares of Nasdaq from an “underperform” rating to a “buy” rating and raised their target price for the stock from $53.00 to $90.00 in a report on Wednesday, September 4th. Barclays upped their price target on shares of Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, July 26th. 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. Finally, Deutsche Bank Aktiengesellschaft upped 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Insider Buying and Selling at Nasdaq

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the transaction, the insider now directly owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by insiders.

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.