SRN Advisors LLC Sells 11,210 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

SRN Advisors LLC decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 47.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,616 shares of the financial services provider’s stock after selling 11,210 shares during the period. SRN Advisors LLC’s holdings in Nasdaq were worth $760,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Thoma Bravo L.P. purchased a new position in shares of Nasdaq during the fourth quarter worth approximately $4,166,454,000. Vanguard Group Inc. increased its holdings in Nasdaq by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after purchasing an additional 3,173,981 shares during the period. Farallon Capital Management LLC raised 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 valued at $532,357,000 after purchasing an additional 1,866,219 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Nasdaq in the 4th quarter worth approximately $96,241,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Nasdaq by 283.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,154,143 shares of the financial services provider’s stock worth $72,880,000 after acquiring an additional 853,414 shares during the period. Institutional investors own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

NDAQ has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. TD Cowen started coverage on Nasdaq in a research note on Thursday, September 26th. They issued a “hold” rating and a $83.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Oppenheimer upped their price target on shares of Nasdaq from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, Bank of America upgraded shares of Nasdaq from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $90.00 in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.87.

Insider Buying and Selling

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction on 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 sale, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Nasdaq Stock Performance

Shares of NDAQ opened at $73.05 on Wednesday. The business has a 50-day simple moving average of $70.50 and a two-hundred day simple moving average of $64.30. The stock has a market cap of $42.02 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 3.04 and a beta of 0.95. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $74.88. 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 (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, analysts expect that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, September 13th. Nasdaq’s dividend payout ratio (DPR) is presently 50.53%.

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.