National Bank of Canada FI Sells 224,881 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

National Bank of Canada FI decreased its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 34.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 420,478 shares of the financial services provider's stock after selling 224,881 shares during the quarter. National Bank of Canada FI owned 0.07% of Nasdaq worth $30,699,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NDAQ. Wellington Management Group LLP boosted its stake in Nasdaq by 163.3% in the third quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider's stock worth $2,835,235,000 after purchasing an additional 24,084,154 shares in the last quarter. Mizuho Securities USA LLC lifted its position 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 in the last quarter. State Street Corp grew its holdings in Nasdaq by 11.2% during the 3rd quarter. State Street Corp now owns 17,951,698 shares of the financial services provider's stock worth $1,310,653,000 after acquiring an additional 1,811,616 shares during the last quarter. Harris Associates L P grew its holdings in Nasdaq by 14.6% during the 3rd quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider's stock worth $627,596,000 after acquiring an additional 1,096,090 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in 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 in the last quarter. Institutional investors and hedge funds own 72.47% of the company's stock.

Nasdaq Stock Down 1.8 %

Shares of NDAQ stock traded down $1.44 during trading hours on Monday, hitting $79.70. 2,632,035 shares of the company were exchanged, compared to its average volume of 2,863,811. Nasdaq, Inc. has a 52 week low of $53.87 and a 52 week high of $83.77. 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 business has a 50 day moving average of $76.82 and a two-hundred day moving average of $69.58. The company has a market capitalization of $45.81 billion, a PE ratio of 48.59, a PEG ratio of 3.16 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The company's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Analysts anticipate that Nasdaq, Inc. will post 2.79 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq's payout ratio is 57.49%.

Insiders Place Their Bets

In other news, insider Pc Nelson Griggs sold 6,000 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.71, for a total transaction of $454,260.00. Following the sale, the insider now owns 215,563 shares in the company, valued at $16,320,274.73. This represents a 2.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 12,075 shares of the 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 of the company's stock, 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. Insiders sold a total of 49,459 shares of company stock valued at $3,811,808 in the last quarter. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America decreased their price target on shares of Nasdaq from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. UBS Group increased their price objective on Nasdaq from $73.00 to $79.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on Nasdaq from $77.00 to $83.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Piper Sandler upped their price target on Nasdaq from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Nasdaq from $78.00 to $80.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $81.53.

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.