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)
53% more first-time investments, than exits
New positions opened: 124 | Existing positions closed: 81
33% more repeat investments, than reductions
Existing positions increased: 375 | Existing positions reduced: 281
33% more funds holding in top 10
Funds holding in top 10: 9 [Q4 2024] → 12 (+3) [Q1 2025]
24% more call options, than puts
Call options by funds: $111M | Put options by funds: $89.3M
1% more funds holding
Funds holding: 884 [Q4 2024] → 895 (+11) [Q1 2025]
0.32% less ownership
Funds ownership: 82.97% [Q4 2024] → 82.65% (-0.32%) [Q1 2025]
2% less capital invested
Capital invested by funds: $36.9B [Q4 2024] → $36.1B (-$828M) [Q1 2025]
Research analyst outlook
8 Wall Street Analysts provided 1 year price targets over the past 3 months
8 analyst ratings
Keefe, Bruyette & Woods Kyle Voigt | 7%upside $88 | Outperform Maintained | 25 Apr 2025 |
UBS Alex Kramm | 0%upside $82 | Neutral Maintained | 25 Apr 2025 |
Barclays Benjamin Budish | 2%upside $84 | Overweight Maintained | 25 Apr 2025 |
Oppenheimer Owen Lau | 4%upside $85 | Outperform Maintained | 11 Apr 2025 |
RBC Capital Ashish Sabadra | 16%upside $95 | Outperform Reiterated | 10 Apr 2025 |
Financial journalist opinion
Based on 25 articles about NDAQ published over the past 30 days









