Nasdaq (NASDAQ:NDAQ) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Nasdaq (NASDAQ:NDAQ) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

NDAQ has been the topic of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price objective on shares of Nasdaq in a report on Tuesday. TD Cowen cut their price target on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Piper Sandler increased their price target on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Argus increased their price target on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Oppenheimer increased their price target on shares of Nasdaq from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.87.

Nasdaq Price Performance

Shares of Nasdaq stock opened at $81.07 on Tuesday. The stock has a market capitalization of $46.60 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 3.12 and a beta of 0.95. Nasdaq has a 1-year low of $53.62 and a 1-year high of $81.35. The firm has a fifty day simple moving average of $75.11 and a 200-day simple moving average of $68.04. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly 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. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, sell-side analysts expect that Nasdaq will post 2.79 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio is 57.49%.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.32, for a total value of $1,027,515.44. Following the transaction, the executive vice president now owns 142,830 shares in the company, valued at $10,757,955.60. The trade was a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeremy Skule sold 12,075 shares of Nasdaq stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.75, for a total value of $950,906.25. Following the completion of the transaction, the executive vice president now owns 102,505 shares in the company, valued at approximately $8,072,268.75. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NDAQ. Y.D. More Investments Ltd boosted its holdings in Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Nasdaq in the second quarter valued at approximately $26,000. Catalyst Capital Advisors LLC acquired a new position in shares of Nasdaq during the third quarter worth approximately $27,000. Crewe Advisors LLC raised its position in shares of Nasdaq by 164.4% during the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 314 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Nasdaq during the first quarter worth approximately $31,000. Institutional investors own 72.47% of the company’s stock.

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.