Pathstone Holdings LLC Acquires 296,551 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Pathstone Holdings LLC increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 275.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 404,041 shares of the financial services provider’s stock after purchasing an additional 296,551 shares during the quarter. Pathstone Holdings LLC’s holdings in Nasdaq were worth $29,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Y.D. More Investments Ltd raised its stake in shares of Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after buying an additional 202 shares during the period. Hobbs Group Advisors LLC bought a new stake in Nasdaq during the 2nd quarter worth approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in Nasdaq during the 3rd quarter worth approximately $27,000. Crewe Advisors LLC lifted its holdings in Nasdaq by 164.4% during the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Nasdaq in the first quarter worth approximately $31,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Price Performance

Nasdaq stock opened at $79.78 on Tuesday. Nasdaq, Inc. has a 52-week low of $53.36 and a 52-week high of $80.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The firm’s fifty day moving average is $74.45 and its 200 day moving average is $67.59. The company has a market cap of $45.85 billion, a price-to-earnings ratio of 47.77, a PEG ratio of 3.07 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $0.71 EPS. The business’s revenue was up 21.9% compared to the same quarter last year. Sell-side analysts forecast that Nasdaq, Inc. will post 2.78 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Insider Activity

In other news, EVP Jeremy Skule sold 12,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total value of $935,040.00. Following the sale, the executive vice president now owns 114,580 shares of the company’s stock, valued at approximately $8,928,073.60. This represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the sale, the executive vice president now owns 142,830 shares of the company’s stock, valued at $10,757,955.60. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,384 shares of company stock valued at $2,860,902 in the last ninety days. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NDAQ. Morgan Stanley raised their price objective on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Bank of America decreased their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Raymond James raised Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective for the company in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 target price on shares of Nasdaq in a research note on Friday, October 25th. Finally, Argus boosted their price target on Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Nasdaq currently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

About Nasdaq

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.