Elevatus Welath Management Invests $3.92 Million in Nasdaq, Inc. $NDAQ

Elevatus Welath Management acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 40,306 shares of the financial services provider’s stock, valued at approximately $3,915,000. Nasdaq accounts for approximately 1.1% of Elevatus Welath Management’s portfolio, making the stock its 29th largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Front Row Advisors LLC purchased a new position in Nasdaq in the second quarter worth about $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Nasdaq during the 2nd quarter valued at about $27,000. Tripletail Wealth Management LLC purchased a new stake in shares of Nasdaq during the 3rd quarter valued at about $27,000. Westside Investment Management Inc. increased its position in shares of Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. Finally, West Branch Capital LLC bought a new position in shares of Nasdaq in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Trading Down 2.7%

Shares of NASDAQ:NDAQ opened at $81.48 on Friday. The stock has a 50 day moving average of $87.69 and a 200 day moving average of $90.09. The company has a market cap of $46.32 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.54 and a beta of 1.03. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $101.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the business earned $0.76 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, March 16th. Nasdaq’s dividend payout ratio (DPR) is presently 34.95%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP John Zecca sold 4,500 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the sale, the executive vice president owned 125,674 shares in the company, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adena T. Friedman sold 92,840 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $90.08, for a total value of $8,363,027.20. Following the sale, the chief executive officer directly owned 2,079,323 shares in the company, valued at approximately $187,305,415.84. This represents a 4.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 697,340 shares of company stock worth $66,803,072 over the last 90 days. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

NDAQ has been the topic of a number of research reports. TD Cowen raised shares of Nasdaq from a “hold” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $109.00 target price on shares of Nasdaq in a report on Wednesday, February 25th. Barclays reiterated an “overweight” rating and issued a $115.00 price target (up from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. Morgan Stanley set a $116.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, UBS Group restated a “buy” rating and issued a $120.00 price objective (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $103.80.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.