Otter Creek Advisors LLC Purchases Shares of 70,462 Nasdaq, Inc. (NASDAQ:NDAQ)

Otter Creek Advisors LLC purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 70,462 shares of the financial services provider's stock, valued at approximately $5,447,000. Nasdaq accounts for approximately 3.7% of Otter Creek Advisors LLC's holdings, making the stock its 4th largest holding.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Nasdaq by 12.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,301 shares of the financial services provider's stock worth $1,482,000 after purchasing an additional 2,171 shares in the last quarter. Private Advisor Group LLC lifted its position in Nasdaq by 7.9% during the third quarter. Private Advisor Group LLC now owns 10,860 shares of the financial services provider's stock worth $793,000 after purchasing an additional 795 shares during the period. Louisiana State Employees Retirement System grew its stake in Nasdaq by 8.4% during the third quarter. Louisiana State Employees Retirement System now owns 23,300 shares of the financial services provider's stock worth $1,701,000 after buying an additional 1,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Nasdaq by 33.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,043 shares of the financial services provider's stock worth $2,544,000 after buying an additional 8,837 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Nasdaq in the 3rd quarter valued at about $265,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Remove Ads

Insider Buying and Selling at Nasdaq

In other news, EVP Bryan Everard Smith sold 3,500 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $81.56, for a total value of $285,460.00. Following the transaction, the executive vice president now owns 55,576 shares in the company, valued at approximately $4,532,778.56. The trade was a 5.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James increased their price target on shares of Nasdaq from $83.00 to $84.00 and gave the stock an "outperform" rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. upped their target price on Nasdaq from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Barclays decreased their price target on Nasdaq from $96.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Oppenheimer boosted their price target on Nasdaq from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their price objective on Nasdaq from $86.00 to $91.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Nasdaq has an average rating of "Moderate Buy" and an average target price of $86.88.

Nasdaq Trading Up 2.5 %

NASDAQ:NDAQ traded up $1.98 during mid-day trading on Friday, hitting $82.78. 3,346,832 shares of the company's stock were exchanged, compared to its average volume of 2,692,052. Nasdaq, Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $84.15. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $47.61 billion, a P/E ratio of 43.11, a PEG ratio of 2.12 and a beta of 0.99. The company has a 50 day simple moving average of $79.84 and a 200-day simple moving average of $76.93.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. As a group, research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, March 14th. Nasdaq's payout ratio is presently 50.00%.

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.