Nasdaq (NASDAQ:NDAQ) Stock Rating Lowered by StockNews.com

Nasdaq (NASDAQ:NDAQ) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

NDAQ has been the topic of a number of other reports. Keefe, Bruyette & Woods lowered their price target on Nasdaq from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday. Oppenheimer boosted their price target on Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Barclays lowered their price target on Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday. Edward Jones started coverage on Nasdaq in a research note on Wednesday, April 3rd. They issued a “buy” rating on the stock. Finally, Rosenblatt Securities reduced their price objective on Nasdaq from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.92.

Nasdaq Price Performance

NDAQ opened at $60.12 on Friday. The stock has a fifty day simple moving average of $59.93 and a two-hundred day simple moving average of $56.50. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.90. The company has a market cap of $34.58 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93. Nasdaq has a 12-month low of $46.88 and a 12-month high of $64.25.

Nasdaq (NASDAQ:NDAQ) last issued 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). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. Nasdaq’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Research analysts predict that Nasdaq will post 2.75 earnings per share for the current fiscal year.

Insider Activity at Nasdaq

In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $3,383,809,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 value 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 approximately $3,383,809,610. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Bryan Everard Smith sold 7,400 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $62.91, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

A number of large investors have recently modified their holdings of the business. Thoma Bravo L.P. purchased a new position in Nasdaq in the 4th quarter valued at approximately $4,166,454,000. Vanguard Group Inc. increased its stake in Nasdaq by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 45,065,891 shares of the financial services provider’s stock valued at $2,620,131,000 after purchasing an additional 745,965 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Nasdaq by 214.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider’s stock valued at $305,224,000 after buying an additional 4,280,846 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Nasdaq by 16.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider’s stock valued at $232,564,000 after buying an additional 681,238 shares during the last quarter. Finally, Norges Bank acquired a new stake in Nasdaq during the 4th quarter valued at $239,347,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

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.