First Trust Direct Indexing L.P. Sells 1,454 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Posted by Defense World Staff on Jul 17th, 2023

First Trust Direct Indexing L.P. lessened its position in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 15.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,985 shares of the financial services provider’s stock after selling 1,454 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Nasdaq were worth $437,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Fund Management at Engine No. 1 LLC bought a new position in shares of Nasdaq during the 4th quarter worth about $229,000. Atria Investments Inc increased its holdings in shares of Nasdaq by 35.1% during the 4th quarter. Atria Investments Inc now owns 35,359 shares of the financial services provider’s stock worth $2,169,000 after purchasing an additional 9,179 shares during the period. Gateway Investment Advisers LLC increased its holdings in shares of Nasdaq by 11.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 7,622 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 809 shares during the period. HB Wealth Management LLC increased its holdings in shares of Nasdaq by 44.3% during the 4th quarter. HB Wealth Management LLC now owns 5,238 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 1,608 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Nasdaq by 4,336.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 669,613 shares of the financial services provider’s stock valued at $41,080,000 after acquiring an additional 654,518 shares in the last quarter. Institutional investors own 72.38% of the company’s stock.

Insider Buying and Selling at Nasdaq

In other news, Director Steven D. Black bought 4,000 shares of the stock in a transaction on Tuesday, June 13th. The stock was purchased at an average price of $51.46 per share, with a total value of $205,840.00. Following the completion of the purchase, the director now owns 144,469 shares of the company’s stock, valued at $7,434,374.74. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Nasdaq Trading Down 1.1 %

NDAQ opened at $50.61 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 22.04 and a beta of 0.92. The firm has a 50 day simple moving average of $52.78 and a 200 day simple moving average of $55.71. Nasdaq, Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $69.22.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $914.00 million during the quarter, compared to the consensus estimate of $910.06 million. Nasdaq had a net margin of 18.38% and a return on equity of 22.15%. Nasdaq’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 2.69 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, June 15th. This is an increase from Nasdaq’s previous quarterly dividend of $0.20. Nasdaq’s dividend payout ratio is presently 38.32%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NDAQ shares. Rosenblatt Securities reiterated a “buy” rating and set a $82.00 target price on shares of Nasdaq in a research report on Thursday, April 20th. Oppenheimer boosted their price target on shares of Nasdaq from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Morgan Stanley lowered shares of Nasdaq from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $70.00 to $60.00 in a research report on Tuesday, April 11th. Bank of America reduced their price target on shares of Nasdaq from $53.00 to $51.00 in a research report on Tuesday, June 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nasdaq from $56.00 to $53.00 in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.44.

Nasdaq Company Profile

(Free Report)

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.