Nasdaq (NASDAQ:NDAQ – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.
Several other analysts have also recently commented on the stock. UBS Group decreased their price objective on shares of Nasdaq from $62.00 to $56.00 in a research note on Tuesday, June 13th. Morgan Stanley restated an “equal weight” rating and set a $55.00 target price on shares of Nasdaq in a research report on Tuesday, July 25th. Deutsche Bank Aktiengesellschaft cut their price target on Nasdaq from $56.00 to $53.00 in a research report on Tuesday, June 13th. Rosenblatt Securities reissued a “buy” rating and issued a $82.00 price objective on shares of Nasdaq in a report on Thursday, July 20th. Finally, Bank of America dropped their target price on Nasdaq from $53.00 to $51.00 in a report on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.67.
Nasdaq Price Performance
NASDAQ NDAQ opened at $52.65 on Thursday. The stock’s fifty day moving average price is $50.48 and its 200 day moving average price is $53.61. Nasdaq has a 1 year low of $48.65 and a 1 year high of $69.22. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $25.87 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 5.34 and a beta of 0.92.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Nasdaq had a return on equity of 21.92% and a net margin of 18.08%. The business had revenue of $925.00 million for the quarter, compared to analyst estimates of $914.85 million. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Nasdaq will post 2.74 earnings per share for the current year.
Insider Buying and Selling at Nasdaq
In other news, Director Michael R. Splinter sold 1,164 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $51.03, for a total transaction of $59,398.92. Following the completion of the transaction, the director now directly owns 2,910 shares of the company’s stock, valued at approximately $148,497.30. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Michael R. Splinter sold 1,164 shares of Nasdaq stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $51.03, for a total value of $59,398.92. Following the sale, the director now owns 2,910 shares in the company, valued at $148,497.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Dennison sold 5,100 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $50.05, for a total transaction of $255,255.00. Following the transaction, the executive vice president now owns 64,509 shares of the company’s stock, valued at approximately $3,228,675.45. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 14,500 shares of company stock valued at $740,540. Company insiders own 0.75% of the company’s stock.
Hedge Funds Weigh In On Nasdaq
Hedge funds and other institutional investors have recently made changes to their positions in the company. RB Capital Management LLC lifted its holdings in Nasdaq by 15.9% in the 1st quarter. RB Capital Management LLC now owns 3,264 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 448 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Nasdaq by 10.2% in the first quarter. American Century Companies Inc. now owns 2,209 shares of the financial services provider’s stock worth $394,000 after buying an additional 205 shares in the last quarter. Raymond James Trust N.A. boosted its position in Nasdaq by 14.1% during the first quarter. Raymond James Trust N.A. now owns 3,932 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 487 shares during the last quarter. Sei Investments Co. grew its stake in Nasdaq by 8.4% during the 1st quarter. Sei Investments Co. now owns 136,395 shares of the financial services provider’s stock valued at $24,319,000 after acquiring an additional 10,623 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Nasdaq by 32.0% in the 1st quarter. Allianz Asset Management GmbH now owns 316,344 shares of the financial services provider’s stock valued at $56,373,000 after acquiring an additional 76,603 shares during the last quarter. Hedge funds and other institutional investors own 72.38% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.