Nasdaq Partners with Nasdaq Private Market to Enhance Transparency in Private Company Valuations with Tape D API

Nasdaq partners with Nasdaq Private Market to enhance price transparency and valuation for private companies through Tape D dataset integration.

Quiver AI Summary

Nasdaq has announced a partnership with Nasdaq Private Market (NPM) to enhance price transparency and valuation visibility for private, pre-IPO companies through NPM's Tape D dataset. As the exclusive distributor of the Tape D API, Nasdaq aims to improve transparency for investors, banks, and private companies by providing real-time private market pricing and critical insights for capital raises and liquidity needs. This collaboration reflects Nasdaq's commitment to transforming private markets using technology, similar to its advancements in public markets. The Tape D API is now available to Nasdaq clients via integration into Nasdaq Data Link, and NPM will also continue to offer individual subscriptions through its website. The initiative is part of Nasdaq’s broader strategy to improve access and transparency across all investment stages, including secondary transactions.

Potential Positives

Partnership with Nasdaq Private Market enhances transparency and valuation visibility for private, pre-IPO companies, addressing critical market challenges.
Exclusive distribution of the Tape D API positions Nasdaq as a leader in providing essential data needed for confident investment decisions in private markets.
The collaboration is part of Nasdaq’s broader commitment to improving liquidity, transparency, and portfolio management across the investment spectrum.
The comprehensive data product supports various stakeholders, including investors, banks, and wealth advisors, facilitating better transaction structuring and liquidity management.

Potential Negatives

The press release does not provide specific information about how Nasdaq Private Market's services distinguish themselves from competitors, which may raise concerns about market differentiation.
No financial metrics or projections are included, leaving potential investors without crucial data to evaluate the partnership's potential impact on Nasdaq's revenue.
The disclaimers regarding Nasdaq Private Market not being a registered exchange or investment adviser may lead to skepticism about the credibility and regulatory compliance of its services.

FAQ

What is the Nasdaq Private Market Tape D Data API?

The Tape D Data API provides price transparency and valuation insights for private, pre-IPO companies, including unicorns and startups.

How does the Tape D API improve private market transparency?

It integrates real-time pricing data, secondary transactions, and valuations to help investors and companies make informed decisions.

Who can access the Nasdaq Tape D API?

Nasdaq clients can access the Tape D API through Nasdaq Data Link, while individual subscriptions are also available via NPM's website.

Why is real-time data important in private markets?

Real-time data provides critical transparency for valuation and investment decisions, especially in a rapidly changing private equity landscape.

What services does Nasdaq Private Market offer?

They provide liquidity solutions, data services, and support throughout the pre-IPO lifecycle for private companies and investors.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$NDAQ Insider Trading Activity

$NDAQ insiders have traded $NDAQ stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

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

BRADLEY J PETERSON (EVP, CIO) has made 0 purchases and 2 sales selling 19,364 shares for an estimated $1,535,544.
SARAH YOUNGWOOD (Executive Vice President) sold 14,959 shares for an estimated $1,102,179
JEREMY SKULE (EVP, CSO) has made 0 purchases and 3 sales selling 13,127 shares for an estimated $1,062,325.
COHEN TAL (President, Market Platforms) sold 8,955 shares for an estimated $749,981
PC NELSON GRIGGS (Pres. Capital Access Platforms) has made 0 purchases and 2 sales selling 8,000 shares for an estimated $664,240.
BRYAN EVERARD SMITH (EVP, CPO) has made 0 purchases and 4 sales selling 7,289 shares for an estimated $569,717.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$NDAQ Hedge Fund Activity

We have seen 504 institutional investors add shares of $NDAQ stock to their portfolio, and 414 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BANK OF AMERICA CORP /DE/ added 2,343,908 shares (+48.3%) to their portfolio in Q1 2025, for an estimated $177,808,860
BAIN CAPITAL PUBLIC EQUITY MANAGEMENT II, LLC removed 2,321,147 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $179,447,874
WELLINGTON MANAGEMENT GROUP LLP removed 2,227,056 shares (-6.4%) from their portfolio in Q1 2025, for an estimated $168,944,468
INVESCO LTD. added 1,592,057 shares (+40.8%) to their portfolio in Q1 2025, for an estimated $120,773,444
DIAMOND HILL CAPITAL MANAGEMENT INC removed 1,400,678 shares (-34.0%) from their portfolio in Q1 2025, for an estimated $106,255,433
UBS GROUP AG added 1,082,115 shares (+29.5%) to their portfolio in Q1 2025, for an estimated $82,089,243
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added 993,553 shares (+5.1%) to their portfolio in Q1 2025, for an estimated $75,370,930

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$NDAQ Analyst Ratings

Wall Street analysts have issued reports on $NDAQ in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Raymond James issued a "Outperform" rating on 01/09/2025

To track analyst ratings and price targets for $NDAQ, check out Quiver Quantitative's $NDAQ forecast page.

Full Release

NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) -- Nasdaq® (Nasdaq: NDAQ) announced today that the company has partnered with Nasdaq Private Market (NPM), a leading provider of secondary liquidity solutions to private companies, employees, and investors, to provide greater price transparency and valuation visibility into private, pre-IPO companies, including unicorns and other startups through NPM’s Tape D® private company dataset.

As the exclusive distributor of the Tape D API, Nasdaq is enhancing essential transparency and access to an increasingly complex private company landscape. Now available to Nasdaq clients through API integration via Nasdaq Data Link , Tape D addresses critical transparency challenges by helping investors evaluate private holdings with greater confidence, enabling banks to structure private transactions more effectively, supporting wealth advisors and shareholders in managing liquidity needs, and equipping private companies with valuable insights for capital raises and tender offers. This comprehensive data product delivers real-time private market pricing by seamlessly integrating primary round data, secondary market transactions, and accounting data including mutual fund marks and 409A valuations.

"Nasdaq was founded on the principle of leveraging technology to make markets more efficient, and we are committed to driving the same transformation in private markets that we've achieved in public markets," said Oliver Albers, Executive Vice President, Chief Product Officer, Capital Access Platforms at Nasdaq. "The collaboration with Nasdaq Private Market builds upon this foundation, reflecting Nasdaq’s continued commitment to creating an ecosystem where transparency, accessibility, and improved outcomes naturally extend across the entire investment lifecycle,” noted Albers.

"The private market is now a critical arena for valuation, investment, and planning, and requires accurate, real-time data. With over 1,200 unicorns and billions in equity held by private shareholders, the need for a reliable valuation benchmark is greater than ever. Tape D brings essential clarity to private markets, and we are excited to partner with Nasdaq to broaden access to market participants," said Marc Perkins, CFA, Senior Vice President of Product at Nasdaq Private Market. In addition to the Tape D API from Nasdaq, NPM offers individual subscriptions directly via NPM’s website .

The launch of this data partnership with Nasdaq Private Market marks the latest step in Nasdaq’s commitment to enhancing transparency, access, and portfolio management capabilities across the public-to-private investment spectrum. This includes offerings such as Nasdaq Fund Secondaries, which bring greater efficiency, transparency, and scalability to secondary transactions. Nasdaq also delivers solutions designed to equip asset owners and asset allocators with essential research and portfolio management tools that span both public and private markets. These enhancements address specific market challenges, helping managers clearly articulate their value propositions to gather assets while giving allocators the visibility they need for confident decision making.

For more information about accessing the Nasdaq Private Market Tape D Data API, please visit: https://www.nasdaq.com/solutions/data/equities/TAPED

About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com .

Nasdaq ^® is a registered trademarks of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED. © 2025. Nasdaq, Inc. All Rights Reserved.

About Nasdaq Private Market
Nasdaq Private Market provides liquidity, wealth and data solutions for private companies, employees, and investors throughout each stage of the pre-IPO lifecycle. Since inception over a decade ago, NPM has executed nearly $60 billion in transactional volume for 200,000+ individual eligible employee shareholders and investors across 775+ company-sponsored liquidity programs. Founded within Nasdaq, Inc. in 2013, today NPM is an independent company with strategic investments from Nasdaq, Allen & Company, Bank of America, BNP Paribas, Citi, DRW Venture Capital, Goldman Sachs, HiJoJo Partners, Morgan Stanley, UBS, and Wells Fargo.

Learn more at www.nasdaqprivatemarket.com . Visit LinkedIn and X for the latest company news.

Disclosures and Disclaimers

NPM is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner and does not offer legal or financial advice to any user of the NPM website or its services. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, and member FINRA/SIPC. Transactions in securities conducted through NPM Securities, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC. Please read these other important disclosures and disclaimers about NPM found here: https://www.nasdaqprivatemarket.com/disclosures-disclaimer/

Contact:

Max Leitenberger
Corporate Communications, Nasdaq
[email protected]

Amanda Gold
Chief of Staff and Chief People Officer, Nasdaq Private Market
[email protected]