Cross Staff Investments Inc Invests $203,000 in Nasdaq, Inc. (NASDAQ:NDAQ)

Cross Staff Investments Inc bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,500 shares of the financial services provider’s stock, valued at approximately $203,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its holdings in shares of Nasdaq by 48.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 428,643 shares of the financial services provider’s stock valued at $20,828,000 after buying an additional 140,286 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in Nasdaq by 10.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 446,910 shares of the financial services provider’s stock valued at $21,715,000 after acquiring an additional 43,910 shares during the last quarter. ING Groep NV raised its stake in shares of Nasdaq by 6.9% during the third quarter. ING Groep NV now owns 53,838 shares of the financial services provider’s stock worth $2,616,000 after acquiring an additional 3,455 shares in the last quarter. Braun Stacey Associates Inc. lifted its holdings in shares of Nasdaq by 29.5% in the 4th quarter. Braun Stacey Associates Inc. now owns 365,494 shares of the financial services provider’s stock worth $21,250,000 after acquiring an additional 83,227 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Nasdaq by 1.8% in the 4th quarter. Nordea Investment Management AB now owns 2,326,799 shares of the financial services provider’s stock valued at $135,396,000 after purchasing an additional 40,215 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several analyst reports. Edward Jones initiated coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They set a “buy” rating for the company. The Goldman Sachs Group upgraded Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, March 26th. Piper Sandler lifted their target price on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Barclays dropped their price target on shares of Nasdaq from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Oppenheimer increased their target price on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.92.

Insider Buying and Selling

In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the sale, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Bryan Everard Smith sold 7,400 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the transaction, the executive vice president now directly owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at $3,383,809,610. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Nasdaq Stock Down 0.0 %

Shares of Nasdaq stock traded down $0.03 during trading on Friday, hitting $60.26. The company’s stock had a trading volume of 3,161,292 shares, compared to its average volume of 3,160,631. The company has a fifty day simple moving average of $59.84 and a two-hundred day simple moving average of $56.39. Nasdaq, Inc. has a 52 week low of $46.88 and a 52 week high of $64.25. The company has a market capitalization of $34.66 billion, a PE ratio of 28.48, a P/E/G ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.01 and a current ratio of 1.01.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a return on equity of 19.28% and a net margin of 17.48%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts predict that Nasdaq, Inc. will post 2.75 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, June 14th. This represents a $0.96 annualized dividend and a yield of 1.59%. This is an increase from Nasdaq’s previous quarterly dividend of $0.22. Nasdaq’s payout ratio is currently 41.71%.

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.