Nasdaq, Inc.
At today's price, Nasdaq, Inc. (NDAQ) is priced for +7.4% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
Nasdaq is no longer just an exchange; it is a recurring-revenue financial-technology and data company with market services as one piece. At $82.23 (June 27, 2026) the price decomposes onto its Capital Access Platforms segment, where it implies operating growth of about 5% per year for five years, a multiple that sits at the very top of the peer distribution. The moat shows in the numbers: the most recent quarter put net revenue at $1.4 billion, up 14%, annualized recurring revenue at $3.2 billi
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1,057 institutional managers reported holding NDAQ in 13F filings for the quarter ended 2026-03-31. Together they hold about 82% of the company; the top 10 hold 50%. 121 opened new positions that quarter. Held by Vanguard Group, BlackRock, Wellington Management, among others. On the short side, 8.7M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (2.7 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NDAQ's share count grew 15.1% over the past five years even with $1.64B spent on repurchases. It pays a dividend, and has for 13 years running, raised 12 years straight; the current rate is $1.05 a share annually. Cash returned over the past three years: $1.53B in dividends and $1.42B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at NDAQ over the trailing three years: 2023: 3 buys totaling $1.24M; 2024: 1 buy totaling $204k; 2026: 3 buys totaling $21.68M. 20 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NDAQ's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | -3.4% | -0.7% |
| 2023-11-04 | +0.7% | +10.8% |
| 2024-02-22 | -2.3% | +6.6% |
| 2024-05-03 | -0.3% | -0.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NDAQ's latest 8-K filings: 2026-07-01 (items 1.01, 1.02, 2.03, 9.01); 2026-06-16 (items 5.07); 2026-04-23 (items 2.02, 7.01, 8.01, 9.01); 2026-01-29 (items 2.02, 7.01, 8.01, 9.01); 2026-01-16 (items 5.03, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.