Dockside LLC Takes Position in Nasdaq, Inc. $NDAQ

Dockside LLC bought a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 55,739 shares of the financial services provider’s stock, valued at approximately $5,414,000. Nasdaq comprises 1.4% of Dockside LLC’s holdings, making the stock its 14th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SOA Wealth Advisors LLC. purchased a new position in shares of Nasdaq during the 4th quarter valued at approximately $34,000. Nemes Rush Group LLC purchased a new position in shares of Nasdaq during the 4th quarter valued at approximately $35,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq during the 4th quarter valued at approximately $37,000. Elyxium Wealth LLC purchased a new position in shares of Nasdaq during the 4th quarter valued at approximately $44,000. Finally, Community Bank N.A. purchased a new position in shares of Nasdaq during the 3rd quarter valued at approximately $45,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Nasdaq news, EVP Bradley J. Peterson sold 7,710 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total value of $700,222.20. Following the sale, the executive vice president directly owned 141,035 shares of the company’s stock, valued at $12,808,798.70. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cohen Tal sold 15,518 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the completion of the sale, the insider directly owned 215,208 shares in the company, valued at $19,530,126. This represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 138,162 shares of company stock valued at $11,932,913 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Stock Performance

NDAQ stock opened at $88.98 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $50.32 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.78 and a beta of 0.97. Nasdaq, Inc. has a 12-month low of $77.09 and a 12-month high of $101.79. The stock’s 50 day simple moving average is $88.88 and its 200 day simple moving average is $90.10.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.42 billion. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. As a group, equities research analysts predict that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a $0.31 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq’s dividend payout ratio is 32.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research note on Wednesday, April 22nd. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research note on Thursday. Raymond James Financial reiterated an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a research note on Wednesday, February 25th. Barclays upped their price target on Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $107.36.

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.