Legacy Bridge LLC Makes New Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Legacy Bridge LLC purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the third quarter, according to the company in its most recent 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.

A number of other hedge funds have also recently made changes to their positions in the business. First Pacific Financial boosted its stake in Nasdaq by 1.0% during the third quarter. First Pacific Financial now owns 13,842 shares of the financial services provider's stock valued at $1,011,000 after buying an additional 142 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Nasdaq by 4.2% in the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider's stock worth $268,000 after buying an additional 149 shares during the period. Kentucky Retirement Systems raised its holdings in shares of Nasdaq by 0.5% in the third quarter. Kentucky Retirement Systems now owns 28,828 shares of the financial services provider's stock worth $2,105,000 after buying an additional 154 shares during the period. Signaturefd LLC raised its holdings in shares of Nasdaq by 2.5% in the third quarter. Signaturefd LLC now owns 6,584 shares of the financial services provider's stock worth $481,000 after buying an additional 162 shares during the period. Finally, Evergreen Capital Management LLC raised its holdings in shares of Nasdaq by 5.4% in the second quarter. Evergreen Capital Management LLC now owns 3,826 shares of the financial services provider's stock worth $231,000 after buying an additional 197 shares during the period. Institutional investors own 72.47% of the company's stock.

Nasdaq Stock Up 0.5 %

NDAQ stock traded up $0.41 during trading on Tuesday, reaching $80.19. The stock had a trading volume of 500,281 shares, compared to its average volume of 2,870,280. Nasdaq, Inc. has a 1-year low of $53.36 and a 1-year high of $80.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $46.09 billion, a P/E ratio of 47.82, a PEG ratio of 3.07 and a beta of 0.95. The firm has a fifty day moving average price of $74.45 and a 200 day moving average price of $67.59.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate 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%. Nasdaq's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, equities analysts anticipate that Nasdaq, Inc. will post 2.78 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, December 6th. Nasdaq's dividend payout ratio (DPR) is 57.49%.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of several research reports. UBS Group raised their price objective on Nasdaq from $73.00 to $79.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Raymond James upgraded Nasdaq from a "market perform" rating to an "outperform" rating and set a $82.00 price objective on the stock in a report on Monday, October 14th. Argus raised their price objective on Nasdaq from $76.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Piper Sandler raised their price objective on Nasdaq from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Barclays increased their target price on Nasdaq from $84.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and a consensus price target of $80.87.

Insiders Place Their Bets

In related news, EVP Bradley J. Peterson sold 13,642 shares of the company's 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 completion of the sale, the executive vice president now owns 142,830 shares in the company, valued at approximately $10,757,955.60. This represents a 8.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total transaction of $935,040.00. Following the completion of the sale, the executive vice president now owns 114,580 shares of the company's stock, valued at approximately $8,928,073.60. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,384 shares of company stock worth $2,860,902. Insiders own 0.70% of the company's stock.

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.