Elevation Point Wealth Partners LLC Makes New Investment in Nasdaq, Inc. $NDAQ

Elevation Point Wealth Partners LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,300 shares of the financial services provider’s stock, valued at approximately $812,000.

A number of other institutional investors have also modified their holdings of the company. Daiichi Life Insurance Co. Ltd. acquired a new stake in Nasdaq during the second quarter worth approximately $1,236,000. Commerce Bank purchased a new position in shares of Nasdaq during the 2nd quarter worth $22,512,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Nasdaq during the 2nd quarter worth $5,767,000. Quantbot Technologies LP acquired a new stake in shares of Nasdaq during the second quarter worth $1,645,000. Finally, Varma Mutual Pension Insurance Co acquired a new stake in shares of Nasdaq during the second quarter worth $13,382,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Trading Up 0.6%

NASDAQ NDAQ opened at $98.79 on Tuesday. Nasdaq, Inc. has a one year low of $76.55 and a one year high of $101.79. The company’s 50 day moving average price is $90.00 and its 200 day moving average price is $88.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $55.22 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 1.30 and a beta of 0.96.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio is presently 36.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Barclays reaffirmed an “overweight” rating and set a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price target on shares of Nasdaq in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Nasdaq has an average rating of “Buy” and a consensus price target of $110.30.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the transaction, the insider owned 205,001 shares in the company, valued at $19,751,846.35. The trade was a 5.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bradley J. Peterson sold 13,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the transaction, the executive vice president directly owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,797 shares of company stock valued at $3,926,319 over the last 90 days. 0.60% of the stock is owned by corporate insiders.

Nasdaq 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.