Nasdaq supports Texas Senate Bill 29, enhancing corporate governance and promoting Texas as a competitive business jurisdiction.
Quiver AI Summary
Nasdaq announced its support for Texas Senate Bill 29 after it was signed into law by Governor Abbott, emphasizing its role in enhancing corporate governance and Texas' competitiveness as a business hub. The bill establishes the Business Judgment Rule, promoting predictability in corporate litigation. Nasdaq's Executive Vice Chairman, Ed Knight, praised the legislation as a key milestone for corporate governance in Texas, commending local leaders for their innovation-driven approach to economic policy. Nasdaq aims to bolster its presence in Texas, recently opening a regional headquarters in Dallas and supporting over 200 listed companies in the state, while aligning its mission with fostering accessible capital markets.
Potential Positives
- Nasdaq supports Texas Senate Bill 29, which enhances Texas' corporate governance framework, potentially attracting more businesses to incorporate in the state.
- The new regional headquarters in Dallas positions Nasdaq to better serve its clients in Texas, reinforcing its commitment to local economic growth.
- The statement highlights Nasdaq's long-standing advocacy for favorable regulations that promote fair and efficient capital markets, aligning with its mission and potentially boosting its reputation.
Potential Negatives
- The press release emphasizes the legislative support for Texas Senate Bill 29, which may be viewed as an indirect acknowledgment that Nasdaq is navigating complex regulatory environments, potentially undermining investor confidence in its adaptability to forthcoming regulations.
- There is a significant emphasis on the potential risks associated with forward-looking statements, which can raise concerns among investors about future performance and Nasdaq's ability to meet its strategic initiatives.
- The press release highlights Nasdaq's advocacy efforts and presence in Texas, which may imply that the company is feeling pressure to strengthen its community and political ties in response to competitive and regulatory challenges.
FAQ
What is Texas Senate Bill 29 about?
Texas Senate Bill 29 codifies the Business Judgment Rule and promotes predictability in corporate governance litigation.
Why does Nasdaq support Texas Senate Bill 29?
Nasdaq supports SB 29 as it enhances Texas’ competitiveness for incorporation and business growth, promoting clear governance principles.
How does Nasdaq contribute to Texas' economy?
Nasdaq generates over $750 million in revenues in Texas and partners with approximately 800 local clients through its services.
What is Nasdaq's new regional headquarters location?
Nasdaq's new regional headquarters is located in Dallas, serving as a hub for clients in the Southeast region.
How does Nasdaq support corporate issuers?
Nasdaq advocates for corporate issuers by minimizing complexities related to public markets, including various regulatory issues.
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, 1 have been purchases and 12 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 3 sales selling 31,184 shares for an estimated $2,476,180.
- JEREMY SKULE (Executive Vice President) has made 0 purchases and 3 sales selling 24,149 shares for an estimated $1,927,391.
- SARAH YOUNGWOOD (Executive Vice President) sold 14,959 shares for an estimated $1,102,179
- COHEN TAL (President, Market Platforms) sold 8,955 shares for an estimated $749,981
- BRYAN EVERARD SMITH (EVP, CPO) has made 0 purchases and 4 sales selling 7,289 shares for an estimated $569,717.
- ALFRED W ZOLLAR purchased 2,542 shares for an estimated $203,970
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$NDAQ Hedge Fund Activity
We have seen 488 institutional investors add shares of $NDAQ stock to their portfolio, and 378 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- 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
- JANE STREET GROUP, LLC removed 1,728,202 shares (-99.5%) from their portfolio in Q4 2024, for an estimated $133,607,296
- 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
- TWO SIGMA INVESTMENTS, LP removed 1,299,326 shares (-59.3%) from their portfolio in Q4 2024, for an estimated $100,450,893
- UBS GROUP AG added 1,082,115 shares (+29.5%) to their portfolio in Q1 2025, for an estimated $82,089,243
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
AUSTIN, Texas, May 14, 2025 (GLOBE NEWSWIRE) -- Today, Nasdaq issued a statement in support of Texas Senate Bill 29 after Governor Abbott signed the bill into law. This legislation, which codifies the Business Judgment Rule and promotes predictability in corporate governance litigation, enhances Texas’ competitiveness as a jurisdiction for incorporation and business growth. Nasdaq's Executive Vice Chairman Ed Knight joined Governor Abbott, leadership from the Texas legislature, and other Texas business community leaders for the signing ceremony.
“Senate Bill 29 is a milestone for corporate governance in Texas. By embracing smart, innovation-focused regulation like SB 29, Texas is showing the world what it means to lead on economic growth and modern, clear governance principles,” said Ed Knight, Executive Vice Chairman of Nasdaq. “We commend Senator Bryan Hughes, Representative Morgan Meyer, and Governor Greg Abbott for advancing legislation that strengthens Texas’ position as a global center for capital formation.”
Texas has become a national model for innovation-driven policy that balances economic growth with investor confidence. The passage of SB 29 aligns with Nasdaq’s mission to promote fair, efficient, and accessible capital markets, and reinforces Texas as a destination for corporate formation and public company investment. Nasdaq has a longstanding history of advocating for clients by minimizing the complexity associated with navigating the public markets. Its efforts for corporate issuers encompass addressing issues such as the SEC’s proposed climate disclosure rules, cyber disclosure rules, proxy advisory reform, AI regulation, PCAOB reforms, and emerging growth company timelines.
“At Nasdaq, we are honored to have been part of the Texas community for nearly two decades” said Rachel Racz, Senior Vice President, Head of Listings for Texas, Southern U.S. and Latin America at Nasdaq. “We remain committed to advocating for our clients on both a federal and local level and supporting the bold Texas leadership that continues to power our state's dynamic economy.”
Nasdaq’s presence in Texas continues to expand. The company recently announced the opening of a new regional headquarters in Dallas, serving as a Southeast hub and convening space for its Texas-based clients. Nasdaq currently is home to over 200 listed companies headquartered in the state and generates over $750 million in revenues in Texas and the Southeast region of the U.S., partnering with over 2,000 clients, approximately 800 of which are based in Texas.
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 Media Contact
Michelle Mendiola
(646) 634-8350
[email protected]
Chris Hayden
(301) 523-5829
[email protected]
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, information regarding our regional presence. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov . Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
