First Trust Direct Indexing L.P. Acquires 2,640 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

First Trust Direct Indexing L.P. lifted its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,187 shares of the financial services provider’s stock after purchasing an additional 2,640 shares during the period. First Trust Direct Indexing L.P.’s holdings in Nasdaq were worth $963,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its stake in Nasdaq by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 329,905 shares of the financial services provider’s stock worth $24,086,000 after acquiring an additional 1,276 shares in the last quarter. abrdn plc raised its stake in shares of Nasdaq by 23.6% during the third quarter. abrdn plc now owns 169,272 shares of the financial services provider’s stock valued at $12,313,000 after acquiring an additional 32,370 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Nasdaq in the third quarter valued at approximately $202,000. First American Bank grew its stake in Nasdaq by 37.2% in the third quarter. First American Bank now owns 30,861 shares of the financial services provider’s stock worth $2,253,000 after purchasing an additional 8,371 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Nasdaq by 16.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 48,122 shares of the financial services provider’s stock worth $3,513,000 after purchasing an additional 6,760 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In related news, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the transaction, the executive vice president now owns 142,830 shares in the company, valued at approximately $10,757,955.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Pc Nelson Griggs sold 6,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.71, for a total value of $454,260.00. Following the completion of the transaction, the insider now owns 215,563 shares of the company’s stock, valued at $16,320,274.73. The trade was a 0.00 % 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 13,642 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now owns 142,830 shares in the company, valued at $10,757,955.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley upped their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Raymond James raised shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 target price on the stock in a research report on Monday, October 14th. Bank of America lowered their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.27.

Nasdaq Stock Up 0.5 %

NDAQ stock opened at $74.32 on Friday. The stock has a market capitalization of $42.72 billion, a PE ratio of 44.50, a price-to-earnings-growth ratio of 2.96 and a beta of 0.95. Nasdaq, Inc. has a 52 week low of $48.82 and a 52 week high of $76.71. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average of $73.03 and a 200 day moving average of $66.13.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. Sell-side analysts forecast that Nasdaq, Inc. will post 2.78 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.