Nasdaq (NASDAQ:NDAQ) CEO Adena Friedman Sells 300,000 Shares

by · The Markets Daily

Nasdaq, Inc. (NASDAQ:NDAQ – Get Free Report) CEO Adena Friedman sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the sale, the chief executive officer owned 1,924,903 shares of the company’s stock, valued at approximately $186,542,349.73. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Nasdaq Price Performance

NASDAQ NDAQ traded down $9.10 during midday trading on Tuesday, hitting $87.71. The company had a trading volume of 14,426,348 shares, compared to its average volume of 4,028,893. The firm has a 50-day moving average price of $95.91 and a 200-day moving average price of $92.71. The company has a market capitalization of $50.08 billion, a PE ratio of 28.39, a P/E/G ratio of 1.44 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.70. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business earned $0.76 earnings per share. Nasdaq’s revenue was up 13.4% on a year-over-year basis. As a group, analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s dividend payout ratio is 34.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group restated a “buy” rating and set a $120.00 target price (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. JPMorgan Chase & Co. raised their price objective on Nasdaq from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday. Barclays reissued an “overweight” rating and set a $115.00 price objective (up previously from $114.00) on shares of Nasdaq in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. Finally, TD Cowen raised their price target on shares of Nasdaq from $104.00 to $105.00 and gave the company a “hold” rating in a research note on Friday. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.13.

Get Our Latest Research Report on NDAQ

Institutional Investors Weigh In On Nasdaq

Institutional investors and hedge funds have recently made changes to their positions in the business. Washington Trust Advisors Inc. acquired a new position in Nasdaq during the 4th quarter worth approximately $47,000. Ethic Inc. grew its holdings in shares of Nasdaq by 2.3% during the fourth quarter. Ethic Inc. now owns 108,254 shares of the financial services provider’s stock valued at $10,515,000 after buying an additional 2,419 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Nasdaq by 2.0% during the fourth quarter. Ballentine Partners LLC now owns 18,911 shares of the financial services provider’s stock worth $1,837,000 after acquiring an additional 366 shares in the last quarter. Lighthouse Financial Services Inc. ADV acquired a new position in Nasdaq during the 4th quarter valued at about $2,729,000. Finally, Generali Asset Management SPA SGR lifted its stake in Nasdaq by 4.3% during the 4th quarter. Generali Asset Management SPA SGR now owns 37,480 shares of the financial services provider’s stock valued at $3,640,000 after acquiring an additional 1,538 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

About Nasdaq

(Get Free Report)

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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