CX Institutional Takes $219,000 Position in Nasdaq, Inc. (NASDAQ:NDAQ)

CX Institutional acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,833 shares of the financial services provider’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Nasdaq in the third quarter valued at approximately $27,000. Founders Capital Management purchased a new stake in shares of Nasdaq in the fourth quarter valued at approximately $27,000. Claro Advisors LLC purchased a new stake in shares of Nasdaq in the third quarter valued at approximately $33,000. Raleigh Capital Management Inc. increased its position in shares of Nasdaq by 106.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock valued at $34,000 after buying an additional 225 shares in the last quarter. Finally, Focused Wealth Management Inc purchased a new stake in shares of Nasdaq during the third quarter worth approximately $35,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $81.15 on Monday. Nasdaq, Inc. has a 52 week low of $54.90 and a 52 week high of $83.77. The business’s fifty day simple moving average is $79.41 and its 200-day simple moving average is $74.19. The firm has a market cap of $46.64 billion, a PE ratio of 48.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Equities analysts forecast that Nasdaq, Inc. will post 2.81 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Nasdaq from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $98.00 in a research report on Wednesday, January 8th. Piper Sandler boosted their price target on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price target on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Citigroup boosted their price target on Nasdaq from $78.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, TD Cowen dropped their price target on Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.73.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 12,075 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares of the company’s stock, valued at approximately $8,072,268.75. This represents a 10.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 5,742 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $77.34, for a total value of $444,086.28. Following the transaction, the insider now directly owns 205,821 shares in the company, valued at approximately $15,918,196.14. The trade was a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,817 shares of company stock valued at $2,330,033. Corporate insiders own 0.70% of the company’s stock.

About Nasdaq

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.