NDAQ NASDAQ, INC. Insider Trading

Ab Investor (10% Owner) buys 56,782 NDAQ shares at $85.98, adding $4.9M to a 58.44M-share position.

Ab Investor, a 10% owner of NASDAQ, INC., purchased 56,782 shares at $85.98 on 2026-06-11, bringing the post-transaction holding to 58,439,208 shares. The transaction price of $85.98 sits below the current price of $91.04 and -10.6% from the 52-week high of $101.78. The insider's single prior buy at NDAQ — on 2026-02-13 — produced a 30d return of +8.0% and a 90d return of +14.8%, representing 1 of 1 well-timed buys at this ticker. NDAQ's underlying fundamentals show quarterly revenue of $2,137,000,000.00, net income of $519,000,000.00, and annual revenue growth of +11.6%, providing observable context for this addition to an already large concentrated position.

EVP Peterson sells 7.7K NDAQ shares at $90.82; holds 141.0K post-transaction. Stock up 8.3% in 30d but down 9.0% from 52w high.

Peterson Bradley J, EVP and CIO, sold 7,710 shares of NDAQ at $90.82 on 2026-04-28 for a total value of $700,222.20, reducing his holdings from 148,745 to 141,035 shares. At the current price of $91.91, the shares are trading near the transaction price and remain 9.0% below the 52-week high of $100.98. His cross-ticker track record shows an average 90-day return of 5.9% following prior sales, with only 16.67% well-timed at the 90-day mark, suggesting inconsistent timing discipline across all securities. At NDAQ specifically, Peterson has completed five prior sales; only 1 of 5 prior sales resulted in a negative 90-day return (well-timed from a sell perspective), indicating limited evidence of well-timed exits at this ticker historically. The sale represents a modest 5.2% reduction in holdings while fundamentals remain solid—the company reported $2.1B quarterly revenue, $519.0M net income, and 11.6% annual revenue growth.

Nasdaq President of Market Platforms sells ~1.4M shares, reducing holdings by 6.7% near recent highs

Tal Cohen, President of Market Platforms at Nasdaq, executed a substantial sale of approximately 1.4 million shares at prevailing market prices, trimming his holdings by nearly 7 percent. The stock currently trades slightly below its recent high, having recovered sharply over the past month after a modest three-month pullback—suggesting Cohen sold into relative strength rather than panic. Nasdaq remains a profitable, revenue-growing company with solid fundamentals and a market valuation in the mid-$50 billion range. While the scale of this sale warrants attention, it appears to reflect portfolio management or diversification rather than a dramatic lack of confidence, particularly given the stock's firm recent price action and the company's continued operational performance. The proximity to recent highs—and the absence of other negative signals—suggests this may be opportunistic rebalancing by an executive rather than a harbinger of deteriorating business conditions.

NDAQ Chair/CEO Adena Friedman sold 113,611 shares ($9.7M) under pre-arranged 10b5-1 plan adopted Sept 2025

Adena Friedman executed a scheduled sale of 113,611 shares at $85.44 on 2026-04-01 under a pre-arranged 10b5-1 trading plan adopted on 2025-09-11, reducing her holdings from 2,105,552 shares to 1,991,941 shares. Because the transaction is governed by a pre-arranged plan rather than discretionary trading, the timing and price reflect the plan's mechanics rather than Friedman's market timing judgment. Post-transaction, she retains 1.99M shares, representing a -5.4% reduction in her CEO-level stake. The scheduled nature of the sale limits inference about her current conviction or market outlook.

Friedman (CEO) sells 92,840 NDAQ shares at $90.08 on 2026-03-06; holds 2,079,323 post-sale.

CEO Adena T Friedman sold 92,840 shares on 2026-03-06 at $90.08, reducing holdings by 4.3% to 2,079,323 shares—a moderately sized reduction from her 2.17M-share position. The stock has since declined to $87.60 (current price), trading 13.2% below its 52-week high of $100.98, though it is up 3.3% over the past 30 days. Friedman's cross-ticker sales history shows an average 30-day return of -3.8%, but this metric is limited (only 2 prior sales). At NDAQ specifically, her prior two sales (2026-02-02 and 2026-01-02) showed mixed outcomes: the February sale saw a 30-day decline of -8.0%, while the January sale saw a 30-day gain of +0.5%. The company's fundamentals remain solid—revenue of $1,958,000,000.00, net income of $423,000,000.00, and annual revenue growth of +11.6%—which does not suggest material distress. The sale represents routine portfolio adjustment by a major shareholder rather than a definitive signal of strategic concern.

Director Torgeby Johan bought 12,000 shares of NDAQ at $79.86 for $958,320.00, raising holdings 41.7%

Torgeby Johan, a director at NASDAQ, made a significant open-market purchase of 12,000 shares at $79.86 on 2026-02-17, increasing his holdings from 28,797 to 40,797 shares—a 41.7% increase in position size. His prior buy at NDAQ on 2023-10-23 posted a 90-day return of +14.7%, indicating well-timed execution on that occasion. The current transaction occurs after a -16.4% decline over the past 30 days and at a price -19.4% from the 52-week high, with the company showing solid fundamentals including $2.0B in quarterly revenue, $423.0M net income, and 11.6% annual revenue growth. The outsized addition to holdings—the largest documented action in his same-ticker history—warrants attention for its size and timing within the recent price weakness.

10% Owner INVESTOR AB purchased 200,000 shares of NDAQ at $79.18 for $15.8M amid 30-day decline of -20.6%

INVESTOR AB, a 10% shareholder, acquired 200,000 shares at $79.18, bringing holdings to 58,382,426 shares. This purchase occurred as NDAQ traded -20.6% over the prior 30 days and -21.3% from its 52-week high of $100.98, with the current price at $79.47 near the transaction price. Despite the recent pullback, NDAQ's fundamentals remain solid: annual revenue growth of +11.6%, a P/E of 19.67, and quarterly net income of $423,000,000.00. The transaction adds 200,000 shares to a 58.38M-share position—a 0.3% net increase in holdings—and occurs in a context of significant short-term underperformance against recent peaks.

NDAQ CEO Friedman sold 300,000 shares at $96.91 on 2026-02-02 per 10b5-1 plan; retains 1,924,903 shares.

CEO Adena T. Friedman executed a 300,000-share sale of NASDAQ, INC. (NDAQ) at $96.91 for $29,073,000.00, reducing her stake by 13.5% to 1,924,903 shares post-transaction. This sale was conducted pursuant to a 10b5-1 trading plan adopted on 2025-09-11, making it a scheduled transaction rather than a discretionary decision. The substantial dollar value ($29.1M) and material reduction in direct holdings warrant routine disclosure monitoring, though the pre-arranged nature of the plan indicates this was part of a pre-committed liquidity or diversification schedule rather than a market-timed response.

CEO Adena Friedman sells 300,000 NDAQ shares at $96.39 via scheduled 10b5-1 plan (Jan 2026)

CEO and Chair Adena Friedman sold 300,000 shares of NASDAQ, INC. (NDAQ) at $96.39 on 2026-01-02 for $28.9M under a pre-arranged 10b5-1 trading plan adopted 2025-09-11. The transaction reduced her holdings from 2.22M shares to 1.92M shares, a 13.5% reduction in position size. Because this sale is governed by a scheduled 10b5-1 plan, it reflects a commitment to a predetermined liquidity schedule set months in advance, not a discretionary response to market conditions or valuation signals. The filing indicates an orderly, pre-planned divestiture rather than an unscheduled transaction.

SVP Controller Michelle Lynn Daly sells 8,691 NDAQ shares at $93.45; reduces holdings 49.5% to 8,879 shares

Daly, serving as SVP, Controller & PAO, executed a sale of 8,691 shares on 2025-07-25 at $93.45, reducing her post-transaction holdings to 8,879 shares—a 49.5% reduction from her pre-transaction position of 17,570 shares. The sale generated $812,173.95 in proceeds. The transaction occurred at a price notably below the current price of $95.83 and near the top of the 52-week range ($62.73–$95.83), reflecting stock strength; the stock has appreciated 25.7% over the prior 90 days and 7.6% over 30 days. NASDAQ's fundamentals show annual revenue growth of 22.0%, quarterly revenue of $2.1B, and net income of $452.0M, though the P/E of 36.44 suggests elevated valuation expectations. The magnitude of this insider reduction—dividing her position nearly in half—represents a material decrease in her direct equity stake and warrants examination of the underlying circumstances behind this substantial position decrease.