Resona Asset Management Co. Ltd. Trims Stock Position in Nasdaq, Inc. $NDAQ

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,204 shares of the financial services provider’s stock after selling 6,488 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Nasdaq were worth $12,496,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NDAQ. Front Row Advisors LLC purchased a new position in Nasdaq during the second quarter worth $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Nasdaq in the second quarter valued at $27,000. Tripletail Wealth Management LLC acquired a new stake in shares of Nasdaq during the third quarter valued at $27,000. Access Investment Management LLC purchased a new stake in Nasdaq during the 2nd quarter worth about $28,000. Finally, West Branch Capital LLC acquired a new position in Nasdaq in the 3rd quarter valued at about $29,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the completion of the sale, the executive vice president directly owned 84,974 shares in the company, valued at $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the transaction, the executive vice president owned 125,674 shares in the company, valued at approximately $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 306,605 shares of company stock valued at $29,546,812. 0.70% of the stock is currently owned by company insiders.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $98.05 on Monday. The company has a market cap of $55.99 billion, a P/E ratio of 35.02, a P/E/G ratio of 1.46 and a beta of 1.01. The firm’s 50 day moving average is $94.56 and its two-hundred day moving average is $92.35. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $101.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72.

Analyst Upgrades and Downgrades

NDAQ has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. JPMorgan Chase & Co. upped their price objective on shares of Nasdaq from $111.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. Barclays set a $115.00 target price on shares of Nasdaq and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Raymond James Financial reiterated an “outperform” rating and issued a $100.00 price target (up from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Thursday, October 9th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.67.

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.