Cynosure Group LLC Sells 1,445 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Cynosure Group LLC lessened its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 22.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,988 shares of the financial services provider’s stock after selling 1,445 shares during the quarter. Cynosure Group LLC’s holdings in Nasdaq were worth $364,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI grew its position in Nasdaq by 3.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 137 shares during the period. First Pacific Financial boosted its stake in shares of Nasdaq by 1.0% in the 3rd quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 142 shares during the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of Nasdaq by 4.2% in the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 149 shares during the period. Kentucky Retirement Systems increased its position in Nasdaq by 0.5% during the third quarter. Kentucky Retirement Systems now owns 28,828 shares of the financial services provider’s stock valued at $2,105,000 after acquiring an additional 154 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Nasdaq by 2.5% in the third quarter. Signaturefd LLC now owns 6,584 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 162 shares during the period. 72.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. This trade represents a 8.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeremy Skule sold 12,075 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $78.75, for a total transaction of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares in the company, valued at $8,072,268.75. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,459 shares of company stock worth $3,811,808. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $83.05 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $47.73 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 3.17 and a beta of 0.95. Nasdaq, Inc. has a 1 year low of $53.62 and a 1 year high of $83.50. The stock’s 50 day simple moving average is $75.67 and its two-hundred day simple moving average is $68.56.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Nasdaq’s revenue was up 21.9% on a year-over-year basis. As a group, equities analysts anticipate that Nasdaq, Inc. will post 2.79 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NDAQ. William Blair initiated coverage on Nasdaq in a research note on Monday. They set an “outperform” rating for the company. The Goldman Sachs Group increased their price target on shares of Nasdaq from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Piper Sandler boosted their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Raymond James raised Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 target price on the stock in a report on Monday, October 14th. Finally, UBS Group lifted their target price on Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.87.

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.