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Nasdaq jumps after strong Q3 results and record recurring revenue

Investivoq PriceTracker

Nasdaq, Inc. (NDAQ) is up 7.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to a strong third-quarter earnings release that showed double-digit revenue growth, faster profit growth, and record annualized recurring revenue. Investors also may be responding to strength in the company’s higher-margin solutions, fintech, and index businesses, which can support confidence in future cash flow.

Details:

  • Third-quarter net revenue reached about $1.5 billion, up 13% from a year earlier, while solutions revenue rose 17%.
  • Annualized recurring revenue climbed to roughly $3.4 billion, a record level, with annualized SaaS revenue also posting double-digit growth.
  • GAAP diluted earnings per share increased 31% year over year to $0.96, showing profit growth ahead of revenue growth.
  • Index revenue jumped 39%, and the company also highlighted continued share repurchases and dividends, which may have reinforced the positive reaction.

    • Sources:

    Nasdaq Investor Relations, SEC, MarketScreener

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $NDAQ Insider Trading Activity

    NDAQ Insider Trades

    $NDAQ insiders have traded $NDAQ stock on the open market 18 times in the past 6 months. Of those trades, 1 have been purchases and 17 have been sales.

    Here’s a breakdown of recent trading of $NDAQ stock by insiders over the last 6 months:

    • AB INVESTOR purchased 56,782 shares for an estimated $4,882,116
    • PC NELSON GRIGGS (Pres. Capital Access Platforms) has made 0 purchases and 5 sales selling 37,116 shares for an estimated $3,504,314.
    • BRADLEY J PETERSON (EVP, CIO) has made 0 purchases and 3 sales selling 26,710 shares for an estimated $2,477,452.
    • COHEN TAL (Pres. Market Platforms) sold 15,518 shares for an estimated $1,408,258
    • JEREMY SKULE (EVP, CSO) has made 0 purchases and 4 sales selling 5,625 shares for an estimated $531,956.
    • BRYAN EVERARD SMITH (EVP, CPO) has made 0 purchases and 2 sales selling 4,556 shares for an estimated $408,658.
    • MICHELLE LYNN DALY (SVP, Controller & PAO) has made 0 purchases and 2 sales selling 1,323 shares for an estimated $117,512.

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $NDAQ Hedge Fund Activity

    We have seen 518 institutional investors add shares of $NDAQ stock to their portfolio, and 521 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • WELLINGTON MANAGEMENT GROUP LLP removed 5,946,692 shares (-16.4%) from their portfolio in Q2 2026, for an estimated $468,718,263
    • MASSACHUSETTS FINANCIAL SERVICES CO /MA/ removed 5,800,900 shares (-20.0%) from their portfolio in Q2 2026, for an estimated $457,226,937
    • JPMORGAN CHASE & CO added 3,655,221 shares (+inf%) to their portfolio in Q2 2026, for an estimated $288,104,519
    • JANE STREET GROUP, LLC added 2,863,049 shares (+2779.3%) to their portfolio in Q2 2026, for an estimated $225,665,522
    • SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,828,483 shares (+inf%) to their portfolio in Q2 2026, for an estimated $222,941,030
    • BARCLAYS PLC added 1,844,889 shares (+140.5%) to their portfolio in Q2 2026, for an estimated $145,414,150
    • ASSENAGON ASSET MANAGEMENT S.A. added 1,692,770 shares (+572.7%) to their portfolio in Q3 2026, for an estimated $155,751,767

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $NDAQ Congressional Stock Trading

    Members of Congress have traded $NDAQ stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.

    Here’s a breakdown of recent trading of $NDAQ stock by members of Congress over the last 6 months:

    • REPRESENTATIVE APRIL MCCLAIN DELANEY has traded it 2 times. They made 1 purchase worth up to $15,000 on 04/24 and 1 sale worth up to $250,000 on 08/25.

    To track congressional stock trading, check out Investivoq's congressional trading dashboard. You can access data on congressional stock trades through the Investivoq API Congress trades endpoint.

    $NDAQ Price Targets

    Multiple analysts have issued price targets for $NDAQ recently. We have seen 3 analysts offer price targets for $NDAQ in the last 6 months, with a median target of $108.0.

    Here are some recent targets:

    • Benjamin Budish from Barclays set a target price of $108.0 on 07/09/2026
    • Patrick O'Shaughnessy from Raymond James set a target price of $113.0 on 07/09/2026
    • Bill Katz from TD Cowen set a target price of $98.0 on 06/22/2026

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.