Nasdaq (NASDAQ:NDAQ) Downgraded to Neutral at Rosenblatt Securities

Nasdaq (NASDAQ:NDAQ) was downgraded by equities research analysts at Rosenblatt Securities from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $64.00 price objective on the financial services provider’s stock, down from their previous price objective of $76.00. Rosenblatt Securities’ price objective suggests a potential upside of 6.35% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Oppenheimer increased their price target on shares of Nasdaq from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Piper Sandler lifted their price objective on Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com cut shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods decreased their price target on Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Citigroup raised their price objective on shares of Nasdaq from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.92.

Nasdaq Stock Up 0.5 %

NDAQ stock opened at $60.18 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average is $60.69 and its 200-day moving average is $57.09. Nasdaq has a twelve month low of $46.88 and a twelve month high of $64.25. The firm has a market capitalization of $34.62 billion, a PE ratio of 31.67, a P/E/G ratio of 3.36 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a return on equity of 17.00% and a net margin of 15.98%. Nasdaq’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. Sell-side analysts expect that Nasdaq will post 2.69 EPS for the current fiscal year.

Insider Transactions at Nasdaq

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the firm’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 transaction, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Nasdaq news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the transaction, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bryan Everard Smith sold 3,036 shares of Nasdaq stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total transaction of $181,826.04. Following the transaction, the executive vice president now directly owns 58,636 shares in the company, valued at $3,511,710.04. The disclosure for this sale can be found here. In the last three months, insiders sold 31,010,436 shares of company stock worth $1,798,647,360. 0.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Nasdaq

Several institutional investors have recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Nasdaq by 5.5% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 9,425 shares of the financial services provider’s stock valued at $595,000 after acquiring an additional 492 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Nasdaq by 55.8% in the first quarter. Blair William & Co. IL now owns 27,622 shares of the financial services provider’s stock worth $1,743,000 after purchasing an additional 9,894 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Nasdaq during the 1st quarter valued at $76,000. Kingsview Wealth Management LLC raised its holdings in Nasdaq by 7.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 35,920 shares of the financial services provider’s stock valued at $2,267,000 after buying an additional 2,397 shares during the last quarter. Finally, Ledyard National Bank purchased a new stake in Nasdaq during the 1st quarter valued at $208,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

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.