Citigroup Cuts Nasdaq (NASDAQ:NDAQ) Price Target to $75.00

Nasdaq (NASDAQ:NDAQ) had its price objective decreased by Citigroup from $84.00 to $75.00 in a research report report published on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Morgan Stanley lowered Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 target price on the stock. in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Nasdaq from $88.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Nasdaq in a report on Thursday, January 30th. Finally, UBS Group boosted their target price on shares of Nasdaq from $79.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Nasdaq presently has an average rating of “Moderate Buy” and an average target price of $85.88.

Nasdaq Stock Down 2.0 %

Shares of Nasdaq stock opened at $66.40 on Tuesday. Nasdaq has a 1 year low of $58.10 and a 1 year high of $84.15. The company has a market cap of $38.19 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.12 and a beta of 1.02. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $77.65 and a 200 day moving average price of $77.51.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. As a group, analysts expect that Nasdaq will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.45%. Nasdaq’s payout ratio is presently 50.00%.

Insider Activity at Nasdaq

In related news, EVP Sarah Youngwood sold 14,959 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the transaction, the executive vice president now owns 59,694 shares of the company’s stock, valued at approximately $4,398,253.92. The trade was a 20.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Bryan Everard Smith sold 3,500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $81.56, for a total transaction of $285,460.00. Following the completion of the sale, the executive vice president now directly owns 55,576 shares of the company’s stock, valued at approximately $4,532,778.56. This trade represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,116 shares of company stock worth $1,434,818 in the last 90 days. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rakuten Securities Inc. bought a new position in Nasdaq during the fourth quarter valued at about $26,000. Founders Capital Management bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $27,000. Kestra Investment Management LLC bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $33,000. Raleigh Capital Management Inc. raised its stake in shares of Nasdaq by 106.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 436 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 225 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Nasdaq during the fourth quarter worth $37,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Company Profile

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.