Assetmark Inc. Buys 6,254 Shares of Nasdaq, Inc. $NDAQ

Assetmark Inc. lifted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,177 shares of the financial services provider’s stock after acquiring an additional 6,254 shares during the quarter. Assetmark Inc.’s holdings in Nasdaq were worth $10,626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in Nasdaq during the 4th quarter valued at $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Nasdaq during the 4th quarter worth $34,000. Nemes Rush Group LLC bought a new position in shares of Nasdaq during the 4th quarter worth $35,000. Uniplan Investment Counsel Inc. purchased a new position in shares of Nasdaq during the fourth quarter valued at $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq during the fourth quarter valued at $37,000. Institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In other Nasdaq news, insider Cohen Tal sold 15,518 shares of Nasdaq stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $90.75, for a total transaction of $1,408,258.50. Following the completion of the sale, the insider owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. The trade was a 6.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michelle Lynn Daly sold 1,323 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $88.82, for a total value of $117,508.86. Following the sale, the senior vice president owned 10,089 shares in the company, valued at approximately $896,104.98. The trade was a 11.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 24,551 shares of company stock worth $2,225,990. Insiders own 0.60% of the company’s stock.

Nasdaq Stock Performance

Shares of Nasdaq stock opened at $91.87 on Tuesday. The company has a 50 day moving average price of $87.39 and a 200 day moving average price of $88.63. The firm has a market capitalization of $51.96 billion, a P/E ratio of 27.67, a PEG ratio of 1.46 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 52 week low of $76.55 and a 52 week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. Nasdaq’s revenue was up 13.7% compared to the same quarter last year. Sell-side analysts expect that Nasdaq, Inc. will post 3.92 EPS for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.31 dividend. This is a positive change from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. Nasdaq’s dividend payout ratio (DPR) is 37.35%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Raymond James Financial reissued an “outperform” rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Barclays cut their target price on Nasdaq from $114.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Finally, Loop Capital set a $113.00 price target on shares of Nasdaq in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $108.00.

About Nasdaq

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.