Tidal Investments LLC Grows Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Tidal Investments LLC lifted its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 24.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,254 shares of the financial services provider’s stock after buying an additional 9,290 shares during the quarter. Tidal Investments LLC’s holdings in Nasdaq were worth $2,982,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NDAQ. Smithfield Trust Co raised its stake in Nasdaq by 22.0% during the first quarter. Smithfield Trust Co now owns 960 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 173 shares in the last quarter. Greenleaf Trust increased its position in Nasdaq by 1.6% during the first quarter. Greenleaf Trust now owns 11,330 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 183 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Nasdaq by 89.3% in the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 201 shares during the last quarter. Cigna Investments Inc. New grew its holdings in shares of Nasdaq by 5.6% in the first quarter. Cigna Investments Inc. New now owns 3,872 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 205 shares during the last quarter. Finally, Bollard Group LLC grew its holdings in shares of Nasdaq by 0.4% in the fourth quarter. Bollard Group LLC now owns 71,273 shares of the financial services provider’s stock worth $4,144,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

Shares of Nasdaq stock traded down $0.16 during midday trading on Thursday, hitting $67.52. The company had a trading volume of 1,262,170 shares, compared to its average volume of 3,010,031. The stock has a market cap of $38.84 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 2.79 and a beta of 0.94. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $61.15 and a 200 day simple moving average of $59.98. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $70.01.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. As a group, analysts predict that Nasdaq, Inc. will post 2.73 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid 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 1.42%. Nasdaq’s dividend payout ratio is currently 50.53%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NDAQ. Oppenheimer upped their price target on shares of Nasdaq from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Rosenblatt Securities lowered shares of Nasdaq from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $76.00 to $64.00 in a research note on Wednesday, May 8th. Argus upped 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. StockNews.com lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Finally, Morgan Stanley raised shares of Nasdaq from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $68.25.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently 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.