Nasdaq (NASDAQ:NDAQ) Shares Gap Down - Here's What Happened

Shares of Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $81.19, but opened at $79.25. Nasdaq shares last traded at $79.67, with a volume of 1,766,182 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. TD Cowen reduced their target price on shares of Nasdaq from $81.00 to $80.00 and set a "hold" rating on the stock in a research note on Monday, October 28th. UBS Group boosted their price target 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. Royal Bank of Canada restated an "outperform" rating and set a $95.00 target price on shares of Nasdaq in a report on Thursday, January 9th. Finally, Citigroup boosted their price target on shares of Nasdaq from $78.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $85.73.

Nasdaq Stock Down 0.0 %

The firm has a fifty day moving average of $79.47 and a 200 day moving average of $74.46. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The stock has a market cap of $46.66 billion, a PE ratio of 48.75, a price-to-earnings-growth ratio of 2.77 and a beta of 0.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. On average, equities research analysts anticipate that Nasdaq, Inc. will post 2.81 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.18%. Nasdaq's dividend payout ratio is presently 57.49%.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 12,075 shares of Nasdaq stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the completion of the transaction, the executive vice president now directly owns 102,505 shares in the company, valued at $8,072,268.75. The trade was a 10.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pc Nelson Griggs sold 5,742 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $77.34, for a total value of $444,086.28. Following the completion of the transaction, the insider now directly owns 205,821 shares of the company's stock, valued at approximately $15,918,196.14. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,817 shares of company stock worth $2,330,033 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nasdaq

Hedge funds have recently modified their holdings of the company. Founders Capital Management purchased a new position in shares of Nasdaq during the 4th quarter worth $27,000. Catalyst Capital Advisors LLC acquired a new stake in Nasdaq in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. raised its position in Nasdaq by 106.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 225 shares during the period. Claro Advisors LLC acquired a new position in shares of Nasdaq during the third quarter worth about $33,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of Nasdaq in the third quarter worth about $35,000. 72.47% of the stock is owned by institutional investors and hedge funds.

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.

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