NasdaqNDAQ
About: Founded in 1971, Nasdaq is primarily known for its equity exchange, but in addition to its trading business (about 22.5% of sales), the company sells market and financial data to investors, offers Nasdaq-branded indexes, and lists companies through its capital access segment (42.5%). Nasdaq's newest segment, financial technology, was primarily constructed through the acquisitions of Verafin and Adenza and has expanded the company into capital management, financial crime, and regulatory compliance software (35%) as the firm seeks to become a diversified technology company.
Employees: 9,377
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
54% more first-time investments, than exits
New positions opened: 126 | Existing positions closed: 82
33% more funds holding in top 10
Funds holding in top 10: 9 [Q4 2024] → 12 (+3) [Q1 2025]
32% more repeat investments, than reductions
Existing positions increased: 377 | Existing positions reduced: 285
24% more call options, than puts
Call options by funds: $111M | Put options by funds: $89.3M
3% more funds holding
Funds holding: 886 [Q4 2024] → 911 (+25) [Q1 2025]
0.41% more ownership
Funds ownership: 83.03% [Q4 2024] → 83.44% (+0.41%) [Q1 2025]
1% less capital invested
Capital invested by funds: $36.9B [Q4 2024] → $36.4B (-$509M) [Q1 2025]
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
UBS Alex Kramm | 6%upside $95 | Neutral Maintained | 10 Jul 2025 |
Barclays Benjamin Budish | 13%upside $101 | Overweight Maintained | 10 Jul 2025 |
Raymond James Patrick O'Shaughnessy | 7%upside $96 | Outperform Maintained | 9 Jul 2025 |
Goldman Sachs Alexander Blostein | 8%upside $97 | Buy Maintained | 2 Jul 2025 |
Oppenheimer Owen Lau | 7%upside $96 | Outperform Maintained | 17 Jun 2025 |
Financial journalist opinion
Based on 19 articles about NDAQ published over the past 30 days









