Maryland State Retirement & Pension System Sells 959 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Posted by Defense World Staff on Sep 23rd, 2023

Maryland State Retirement & Pension System decreased its stake in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,075 shares of the financial services provider’s stock after selling 959 shares during the period. Maryland State Retirement & Pension System’s holdings in Nasdaq were worth $1,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Two Sigma Investments LP lifted its stake in Nasdaq by 35.8% in the 1st quarter. Two Sigma Investments LP now owns 2,148,915 shares of the financial services provider’s stock valued at $117,481,000 after purchasing an additional 567,083 shares during the last quarter. Simplicity Solutions LLC raised its stake 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 valued at $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 valued at $229,000. Amalgamated Bank raised its stake 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 valued at $5,039,000 after acquiring an additional 2,437 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. raised its stake 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 valued at $630,000 after acquiring an additional 1,559 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Trading Down 0.3 %

NASDAQ:NDAQ opened at $48.67 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. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 5.22 and a beta of 0.91. The firm has a fifty day simple moving average of $51.07 and a two-hundred day simple moving average of $52.67. Nasdaq, Inc. has a 12 month low of $48.62 and a 12 month high of $69.22.

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

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Thursday, September 14th. Nasdaq’s dividend payout ratio is currently 39.64%.

Insider Activity

In other Nasdaq news, CEO Adena T. Friedman acquired 10,000 shares of Nasdaq stock in a transaction dated Monday, July 31st. The stock was purchased at an average cost of $51.00 per share, for a total transaction of $510,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,672,318 shares of the company’s stock, valued at $85,288,218. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Adena T. Friedman purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Splinter sold 1,164 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $51.03, for a total transaction of $59,398.92. Following the transaction, the director now directly owns 2,910 shares in the company, valued at $148,497.30. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Morgan Stanley reissued an “equal weight” rating and set a $55.00 target price on shares of Nasdaq in a research note on Tuesday, July 25th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nasdaq from $56.00 to $53.00 in a research note on Tuesday, June 13th. Bank of America lowered their target price on shares of Nasdaq from $53.00 to $51.00 in a research note on Tuesday, June 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $82.00 target price on shares of Nasdaq in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.67.

View Our Latest Analysis on Nasdaq

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.