Legacy Bridge LLC Takes Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Legacy Bridge LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,645 shares of the financial services provider’s stock, valued at approximately $1,288,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verity & Verity LLC boosted its stake in shares of Nasdaq by 9.9% during the 3rd quarter. Verity & Verity LLC now owns 7,674 shares of the financial services provider’s stock worth $560,000 after acquiring an additional 692 shares in the last quarter. Caprock Group LLC raised its holdings in Nasdaq by 10.2% in the 3rd quarter. Caprock Group LLC now owns 8,003 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 744 shares during the period. Pathstone Holdings LLC boosted its position in Nasdaq by 275.9% during the third quarter. Pathstone Holdings LLC now owns 404,041 shares of the financial services provider’s stock worth $29,499,000 after purchasing an additional 296,551 shares in the last quarter. Braun Stacey Associates Inc. grew its holdings in Nasdaq by 3.0% in the third quarter. Braun Stacey Associates Inc. now owns 389,021 shares of the financial services provider’s stock valued at $28,402,000 after purchasing an additional 11,340 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Nasdaq in the third quarter valued at approximately $124,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Performance

Nasdaq stock opened at $79.78 on Tuesday. The firm has a 50 day simple moving average of $74.45 and a 200-day simple moving average of $67.59. The stock has a market cap of $45.85 billion, a price-to-earnings ratio of 47.77, a price-to-earnings-growth ratio of 3.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. Nasdaq, Inc. has a 1-year low of $53.36 and a 1-year high of $80.77.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS 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 analysts’ expectations of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, analysts expect that Nasdaq, Inc. will post 2.78 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NDAQ. UBS Group upped their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Oppenheimer raised their price target on shares of Nasdaq from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price objective on shares of Nasdaq in a research note on Friday, October 25th. Piper Sandler raised their target price on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their price target on Nasdaq from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and an average price target of $80.87.

Insider Buying and Selling at Nasdaq

In other news, insider Pc Nelson Griggs sold 5,742 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $77.34, for a total transaction of $444,086.28. Following the completion of the transaction, the insider now directly owns 205,821 shares in the company, valued at $15,918,196.14. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeremy Skule sold 12,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total value of $935,040.00. Following the completion of the sale, the executive vice president now owns 114,580 shares in the company, valued at $8,928,073.60. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,384 shares of company stock valued at $2,860,902 over the last 90 days. 0.70% of the stock is owned by insiders.

Nasdaq 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.