Nasdaq, Inc. $NDAQ Shares Purchased by Wealth Enhancement Advisory Services LLC
by Doug Wharley · The Cerbat GemWealth Enhancement Advisory Services LLC grew its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 24.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 61,604 shares of the financial services provider’s stock after purchasing an additional 12,287 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Nasdaq were worth $5,448,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of NDAQ. Cary Street Partners Investment Advisory LLC raised its position in shares of Nasdaq by 2.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock valued at $441,000 after buying an additional 110 shares during the last quarter. Leavell Investment Management Inc. grew its stake in Nasdaq by 0.4% in the 2nd quarter. Leavell Investment Management Inc. now owns 26,156 shares of the financial services provider’s stock worth $2,339,000 after acquiring an additional 116 shares during the period. Fielder Capital Group LLC grew its stake in Nasdaq by 3.0% in the 2nd quarter. Fielder Capital Group LLC now owns 4,253 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 122 shares during the period. Freedom Investment Management Inc. raised its holdings in Nasdaq by 2.3% in the 2nd quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 128 shares during the last quarter. Finally, Advisors Capital Management LLC lifted its stake in shares of Nasdaq by 3.4% during the 2nd quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 129 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Nasdaq
In related news, EVP John Zecca sold 4,500 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president directly owned 125,674 shares of the company’s stock, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adena T. Friedman sold 300,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $96.39, for a total value of $28,917,000.00. Following the sale, the chief executive officer owned 1,924,903 shares in the company, valued at approximately $185,541,400.17. The trade was a 13.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 306,605 shares of company stock valued at $29,546,812 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Nasdaq Stock Down 0.7%
Shares of NASDAQ:NDAQ opened at $98.05 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $101.79. The stock has a market capitalization of $55.99 billion, a P/E ratio of 35.02, a PEG ratio of 1.46 and a beta of 1.01. The stock has a 50-day simple moving average of $94.56 and a 200-day simple moving average of $92.35.
Analysts Set New Price Targets
A number of brokerages have recently commented on NDAQ. Morgan Stanley reaffirmed an “overweight” rating and issued a $113.00 price objective (up previously from $111.00) on shares of Nasdaq in a research report on Thursday, January 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price target on shares of Nasdaq in a report on Thursday, October 9th. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Nasdaq in a research report on Wednesday, January 14th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Nasdaq presently has an average rating of “Moderate Buy” and a consensus target price of $103.67.
Read Our Latest Stock Report on NDAQ
Nasdaq Company Profile
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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