DRW Securities LLC Purchases New Position in Nasdaq, Inc. (NASDAQ:NDAQ)

DRW Securities LLC acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,600 shares of the financial services provider’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC grew its stake in Nasdaq by 13,532.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock worth $292,040,000 after buying an additional 3,970,658 shares during the last quarter. Farallon Capital Management LLC increased its holdings in shares of Nasdaq by 28.4% in the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after acquiring an additional 1,866,219 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Nasdaq by 67.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,022,546 shares of the financial services provider’s stock valued at $121,879,000 after acquiring an additional 815,946 shares during the period. National Bank of Canada FI raised its position in Nasdaq by 435.6% in the 2nd quarter. National Bank of Canada FI now owns 645,359 shares of the financial services provider’s stock valued at $38,386,000 after purchasing an additional 524,874 shares during the last quarter. Finally, Shapiro Capital Management LLC boosted its stake in Nasdaq by 34.4% during the 2nd quarter. Shapiro Capital Management LLC now owns 1,887,199 shares of the financial services provider’s stock worth $113,723,000 after purchasing an additional 483,361 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. The trade was a 8.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeremy Skule sold 12,075 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $78.75, for a total value of $950,906.25. Following the completion of the sale, the executive vice president now directly owns 102,505 shares in the company, valued at approximately $8,072,268.75. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,459 shares of company stock worth $3,811,808. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on NDAQ shares. UBS Group lifted their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays upped their price objective on Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Piper Sandler lifted their target price on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley boosted their target price on Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price target on shares of Nasdaq in a report on Tuesday, November 19th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

Nasdaq Stock Performance

NDAQ opened at $83.05 on Thursday. Nasdaq, Inc. has a 1-year low of $53.62 and a 1-year high of $83.50. The stock has a market cap of $47.73 billion, a P/E ratio of 49.73, a P/E/G ratio of 3.17 and a beta of 0.95. The stock’s 50 day simple moving average is $75.47 and its 200 day simple moving average is $68.46. 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 (NASDAQ:NDAQ) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. Nasdaq’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, equities analysts anticipate that Nasdaq, Inc. will post 2.79 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, December 6th. This represents a $0.96 annualized dividend and a yield of 1.16%. Nasdaq’s dividend payout ratio (DPR) is currently 57.49%.

About Nasdaq

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.