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Nasdaq, Inc. Stock: price and insider trades · United States
No insider purchase over the last 90 days. The latest was filed 19 Feb 2026.
Nasdaq, Inc.: what insiders have been doing
Every trade that managers of Nasdaq, Inc. disclose to SEC (Form 4) is tracked on this page. The company sits in the Finance & Banking sector and is based in New York City, United States. It was founded in 1971. Its latest reported headcount is 8,809 employees (2025). Between 18 October 2025 and 18 October 2026, 18 insiders published 81 filings.
Open-market activity splits into 2 purchases totalling €14.2M and 22 sales totalling €16.9M; 2 insiders sit on the buying side and 8 insiders on the selling side. Netting one side against the other leaves €2.7M of net selling. Buying on the open market means paying the going price with one's own funds, a different act from receiving shares as pay. Among those who bought: 1 senior executive. At €13.3M, the purchase published on 13 February 2026 by Investor AB is the largest of the period.
In all, 1 purchase was made within 30 days of a purchase by another insider of the company. Such overlaps are known as a cluster signal: distinct people reaching the same decision at about the same time. The clock since the last published purchase (19 February 2026) now reads 241 days. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 2 days. US insiders must file a Form 4 within two business days of a trade. Sales are harder to read than purchases, since they often meet personal needs such as tax or diversification.
For context, the typical company on the same exchange (median of 5,812 companies) published 19 filings over the same period, against 81 filings here. Our records for Nasdaq, Inc. go back to 2016, with 7 purchases and 101 sales on the open market in total. The 10-K for the year ended 31 December 2025 shows 8.26 bn USD of revenue and 1.79 bn USD of net income and a dividend of 1.05 USD per share.
For comparison within the same sector, see the insider buying recorded at Redwood Trust Inc and First Guaranty Bancshares, Inc. Every figure here comes from the filings published by SEC (Form 4) and describes the past, not future prices; it is not investment advice.
Insider Decl.
351
Thresholds
n/a
Buy Volume
€16M
7 ops. · all time
Sell Volume
€4B
101 ops. · all time
Who traded when
BuySaleJeremy Skule15 sales
PC Nelson Griggs9 sales
Bryan Everard Smith6 sales
Bradley J. Peterson5 sales
Daly Michelle Lynn4 sales
Tal Cohen2 sales
+7 other insiders
Since the insiders bought
- +10.4%Entry US$81.87 · Close at T+90 US$90.41
- +13.5%Entry US$80.24 · Close at T+90 US$91.06
- +33.5%Entry US$50.04 · Close at T+365 US$66.80
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate Nasdaq, Inc. Buy (bullish), based on 16 analysts. Average price target: US$108.69.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 9,878 of 24,158 companies
56.2
score / 100
Value46
Quality66
FCF yld3.8%
Earn yld3.4%
EV/EBITDA19.8x
ROE17%
Gross mgn42%
Net mgn22%
Debt/EBITDA3.0x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$93.48
Analyst consensus
16 analystsBuy
US$84.00Target US$108.69(+16%)US$132.00
Income statement
RevenueUS$8.3B
Gross profitUS$3.5B42% margin
EBITDAUS$3.1B38% margin
Net incomeUS$1.8B35.0% margin
Valuation
PER (trailing)27.3x
PER (forward)20.0x
P/Book4.4x
Beta1.00
Balance sheet & cash
Market capUS$52.3B
Total debtUS$9.5B
Free Cash FlowUS$2B
Debt / Equity78%
Profitability & ownership
ROE16.5%
ROA5.9%
% insiders11.0%
% institutions87.1%
Last declaration on 14 October 2026
Declarations351 total
1,125 shares@ US$94.13Common Stock, par value $0.01 per shareSEC:0001193125-26-421659:0
1,125 shares@ US$94.130.0002% mcap20.4% of flowCommonSEC144:0001950047-26-010180
1,262 shares@ US$92.010.0002% mcap1.5% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-414093:0
1,125 shares@ US$95.000.0002% mcap1.4% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-400998:0
1,125 shares@ US$95.000.0002% mcap25.3% of flowCommonSEC144:0001950047-26-009731
1,125 shares@ US$94.220.0002% mcap1.4% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-390544:0
1,125 shares@ US$94.220.0002% mcap24.7% of flowCommonSEC144:0001950047-26-009284
3,226 shares@ US$96.160.0006% mcap2.9% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-346807:0
2,250 shares@ US$94.750.0004% mcap2.8% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-346810:0
6,000 shares@ US$95.550.0011% mcap3.7% of flowCommon Stock, par value $0.01 pershareSEC:0001193125-26-344576:0
3,226 shares@ US$96.16360.0006% mcap10.1% of flowCommonSEC144:0001950047-26-007859
2,250 shares@ US$94.750.0004% mcap50.0% of flowCommonSEC144:0001950047-26-007864
6,000 shares@ US$95.55010.0011% mcap32.0% of flowCommonSEC144:0001950047-26-007780
1,556 shares@ US$95.070.0003% mcap4.2% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-335033:0
1,556 shares@ US$95.070.0003% mcap22.7% of flowCommonSEC144:0001950047-26-007508
11,010 shares@ US$96.350.0020% mcap10.0% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-328462:0
11,010 shares@ US$96.34470.0020% mcap35.1% of flowCommonSEC144:0001950047-26-007385
11,010 shares@ US$93.960.0019% mcap9.7% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-320976:1
13,000 shares@ US$92.610.0023% mcap7.9% of flowCommon Stock, par value $0.01 pershareSEC:0001193125-26-320978:0
6,777 shares@ US$92.530.0012% mcap5.9% of flowCommon Stock, par value $0.01 per shareSEC:0001193125-26-320976:0
11,010 shares@ US$93.95640.0019% mcap34.1% of flowCommonSEC144:0001950047-26-007309
13,000 shares@ US$92.60850.0023% mcap68.0% of flowCommonSEC144:0001950047-26-007298
6,777 shares@ US$92.530.0012% mcap20.7% of flowCommonSEC144:0001950047-26-007291
3,000 shares@ US$80.000.0004% mcap37.4% of flowCommonSEC144:0001950047-26-006686
2,998 sharesCommon Stock, par value $0.01 per shareSEC:0001193125-26-269508:0
25 of 351 declarations
About Nasdaq, Inc.
Nasdaq, Inc. (ticker: NDAQ) is a U.S.-listed financial markets and technology company traded on the NASDAQ market in the United States. For French-speaking investors, it should be viewed not simply as an exchange operator, but as an integrated capital-markets platform that combines trading infrastructure, market technology, financial data, indices, issuer services, and regulatory/compliance software. The company was founded in 1971 and became the world’s first electronic stock market. Its U.S. headquarters are in New York, New York, and Nasdaq also identifies a European headquarters in Stockholm, Sweden. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1120193/000112019325000008/ndaq-20241231.htm))
Nasdaq’s business model is organized around three main segments: Capital Access Platforms, Financial Technology, and Market Services. Capital Access Platforms includes listings, investor relations and issuer solutions, data and index businesses, and products that connect companies with investors. Financial Technology covers surveillance, anti-financial-crime tools, regulatory reporting, and software used by banks, brokers, regulators, and other market participants. Market Services includes equity and derivatives trading, clearing-related capabilities, and market infrastructure technology. Nasdaq emphasizes a global client base spanning more than 130 market infrastructure organizations in over 50 countries, as well as deep relationships across the corporate issuer and investment ecosystem. ([ir.nasdaq.com](https://ir.nasdaq.com/news-releases/news-release-details/nasdaq-announces-new-corporate-structure-accelerate-strategy))
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From a competitive standpoint, Nasdaq holds a strong position in U.S. equity markets through the Nasdaq Stock Market and describes itself as the largest market in U.S. equities, while also claiming leadership in U.S. equity options and a number-one share in Nordic equities. The company’s franchise is supported by a broad product set that includes indices, data, listings, surveillance, anti-money-laundering tools, and market modernization technology. This diversified model gives Nasdaq exposure to both transaction-driven revenues and more recurring software/data revenues, which is an important strategic feature for long-term investors. ([ir.nasdaq.com](https://ir.nasdaq.com/news-releases/news-release-details/nasdaq-announces-new-corporate-structure-accelerate-strategy))
Recent developments have reinforced the company’s modernization narrative. Nasdaq reported strong 2025 results in early 2026, with net revenue above $5.2 billion and Solutions revenue above $4.0 billion, while continuing capital returns through dividends and share repurchases. Management also highlighted major strategic initiatives, including a filing with the SEC to facilitate trading in tokenized securities and a plan to introduce 23/5 trading in the second half of 2026. These moves suggest Nasdaq is positioning itself at the center of the next phase of market structure evolution, with an emphasis on digitization, liquidity access, and always-on capital markets. ([ir.nasdaq.com](https://ir.nasdaq.com/news-releases/news-release-details/nasdaq-reports-fourth-quarter-and-full-year-2025-results-annual))
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