Dark Forest Capital Management LP Invests $89,000 in Nasdaq, Inc. (NASDAQ:NDAQ)

Posted by Defense World Staff on Sep 8th, 2023

Dark Forest Capital Management LP purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,633 shares of the financial services provider’s stock, valued at approximately $89,000.

Other institutional investors have also modified their holdings of the company. Simplicity Solutions LLC grew its position in shares of Nasdaq by 68.6% during the first quarter. Simplicity Solutions LLC now owns 6,305 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 2,566 shares during the last quarter. Fund Management at Engine No. 1 LLC bought a new position in shares of Nasdaq during the fourth quarter worth about $229,000. Amalgamated Bank grew its position in shares of Nasdaq by 2.7% during the first quarter. Amalgamated Bank now owns 92,170 shares of the financial services provider’s stock worth $5,039,000 after acquiring an additional 2,437 shares during the last quarter. Desjardins Global Asset Management Inc. grew its position in shares of Nasdaq by 15.7% during the first quarter. Desjardins Global Asset Management Inc. now owns 11,516 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 1,559 shares during the last quarter. Finally, New Millennium Group LLC grew its position in Nasdaq by 28.8% in the 1st quarter. New Millennium Group LLC now owns 9,619 shares of the financial services provider’s stock valued at $526,000 after buying an additional 2,152 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

NDAQ stock opened at $51.66 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.57. Nasdaq, Inc. has a one year low of $48.65 and a one year high of $69.22. The firm has a market capitalization of $25.38 billion, a PE ratio of 23.27, a P/E/G ratio of 5.23 and a beta of 0.91. The firm has a 50-day moving average of $50.87 and a two-hundred day moving average of $53.12.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Nasdaq had a net margin of 18.08% and a return on equity of 21.92%. The company had revenue of $925.00 million during the quarter, compared to analyst estimates of $914.85 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Nasdaq, Inc. will post 2.74 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 14th. Nasdaq’s dividend payout ratio is presently 39.64%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $82.00 target price on shares of Nasdaq in a research report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 target price on shares of Nasdaq in a research report on Tuesday, July 25th. UBS Group decreased their target price on shares of Nasdaq from $62.00 to $56.00 in a research report on Tuesday, June 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nasdaq from $56.00 to $53.00 in a research report on Tuesday, June 13th. Finally, Bank of America reduced their price objective on shares of Nasdaq from $53.00 to $51.00 in a research report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Nasdaq currently has a consensus rating of “Hold” and an average price target of $61.67.

Read Our Latest Stock Analysis on Nasdaq

Insider Buying and Selling at Nasdaq

In other news, CEO Adena T. Friedman acquired 10,000 shares of Nasdaq stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $51.00 per share, with a total value of $510,000.00. Following the completion of the purchase, the chief executive officer now owns 1,672,318 shares of the company’s stock, valued at $85,288,218. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Steven D. Black purchased 4,000 shares of Nasdaq stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average cost of $51.46 per share, with a total value of $205,840.00. Following the completion of the transaction, the director now directly owns 144,469 shares of the company’s stock, valued at $7,434,374.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adena T. Friedman purchased 10,000 shares of Nasdaq stock in a transaction dated Monday, July 31st. The stock was bought at an average cost of $51.00 per share, with a total value of $510,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,672,318 shares of the company’s stock, valued at $85,288,218. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 14,500 shares of company stock valued at $740,540. 0.75% of the stock is currently owned by corporate insiders.

About Nasdaq

(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.