Nasdaq Inc (NDAQ) Shares Sold by Penserra Capital Management LLC
Penserra Capital Management LLC reduced its stake in Nasdaq Inc (NASDAQ:NDAQ) by 16.9% in the first quarter, HoldingsChannel.com reports. The fund owned 15,169 shares of the financial services provider’s stock after selling 3,076 shares during the quarter. Penserra Capital Management LLC’s holdings in Nasdaq were worth $1,398,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Nasdaq during the fourth quarter valued at approximately $93,156,000. Findlay Park Partners LLP lifted its stake in Nasdaq by 70.5% during the fourth quarter. Findlay Park Partners LLP now owns 1,875,000 shares of the financial services provider’s stock valued at $152,944,000 after purchasing an additional 775,000 shares during the last quarter. Millennium Management LLC lifted its stake in Nasdaq by 277.6% during the fourth quarter. Millennium Management LLC now owns 318,740 shares of the financial services provider’s stock valued at $26,000,000 after purchasing an additional 234,328 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Nasdaq by 5,536.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 222,428 shares of the financial services provider’s stock valued at $19,460,000 after acquiring an additional 218,482 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Nasdaq during the fourth quarter valued at approximately $16,175,000. 74.39% of the stock is owned by institutional investors.
In other news, EVP Pc Nelson Griggs sold 1,339 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $90.24, for a total value of $120,831.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas A. Wittman sold 13,561 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $88.04, for a total value of $1,193,910.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,846 shares of company stock valued at $1,490,582. Insiders own 0.50% of the company’s stock.
Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.05. The firm had revenue of $638.00 million during the quarter, compared to the consensus estimate of $632.71 million. Nasdaq had a return on equity of 14.60% and a net margin of 12.67%. The business’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. On average, sell-side analysts predict that Nasdaq Inc will post 4.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.47 per share. This is an increase from Nasdaq’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.88 annualized dividend and a yield of 2.09%. Nasdaq’s payout ratio is presently 36.36%.
Several research firms have weighed in on NDAQ. BidaskClub upgraded shares of Nasdaq from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 25th. Argus started coverage on shares of Nasdaq in a report on Wednesday, February 6th. They issued a “buy” rating and a $97.00 price target for the company. Zacks Investment Research upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Raymond James dropped their price objective on shares of Nasdaq from $97.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $97.92.
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Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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