Trust Asset Management LLC Invests $228,000 in Nasdaq, Inc. (NASDAQ:NDAQ)

Trust Asset Management LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,915 shares of the financial services provider’s stock, valued at approximately $228,000.

Other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its position in shares of Nasdaq by 48.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 428,643 shares of the financial services provider’s stock worth $20,828,000 after buying an additional 140,286 shares during the period. Schonfeld Strategic Advisors LLC grew its position in shares of Nasdaq by 10.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 446,910 shares of the financial services provider’s stock worth $21,715,000 after buying an additional 43,910 shares during the period. ING Groep NV grew its holdings in Nasdaq by 6.9% during the third quarter. ING Groep NV now owns 53,838 shares of the financial services provider’s stock valued at $2,616,000 after purchasing an additional 3,455 shares during the period. Braun Stacey Associates Inc. grew its holdings in Nasdaq by 29.5% during the fourth quarter. Braun Stacey Associates Inc. now owns 365,494 shares of the financial services provider’s stock valued at $21,250,000 after purchasing an additional 83,227 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Nasdaq by 1.8% during the fourth quarter. Nordea Investment Management AB now owns 2,326,799 shares of the financial services provider’s stock valued at $135,396,000 after purchasing an additional 40,215 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Down 2.0 %

NDAQ traded down $1.21 during trading on Thursday, reaching $60.29. The company had a trading volume of 7,780,926 shares, compared to its average volume of 3,161,433. The business’s fifty day moving average price is $59.84 and its 200 day moving average price is $56.39. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $34.68 billion, a P/E ratio of 28.57, a PEG ratio of 2.80 and a beta of 0.93. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $64.25.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities analysts anticipate that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Wednesday, March 13th. Nasdaq’s dividend payout ratio is presently 41.71%.

Insider Transactions at Nasdaq

In other news, EVP Bryan Everard Smith sold 7,400 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the sale, the executive vice president now owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan Everard Smith sold 7,400 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $62.91, for a total transaction of $465,534.00. Following the sale, the executive vice president now directly owns 61,672 shares in the company, valued at $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $59.00 to $80.00 in a report on Tuesday, April 9th. The Goldman Sachs Group upgraded shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Tuesday, March 26th. Citigroup boosted their price objective on shares of Nasdaq from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, January 12th. Oppenheimer boosted their price objective on shares of Nasdaq from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Barclays initiated coverage on shares of Nasdaq in a report on Thursday, April 11th. They set an “overweight” rating and a $76.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.09.

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.