Nasdaq rises as strong trading activity and improving earnings expectations lift sentiment

Nasdaq Inc. (NDAQ) is up 3.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to improving expectations for Nasdaq’s second-quarter results after the company posted fresh June and quarter-end operating statistics and investors focused on strong trading and index-related activity. A recent analyst note also pointed to better market-services, index, and solutions trends, which likely reinforced the bullish reaction.

Details:

Nasdaq released June 2026 volumes and second-quarter operating statistics last week, giving investors a new read on trading activity, listings, and estimated revenue capture.

The company highlighted a record day for its Closing Cross during the June Russell indexes reconstitution, with billions of shares traded, underscoring the strength of its market infrastructure franchise.

Earlier this year, Nasdaq raised its medium-term Solutions revenue growth outlook to 9% to 12% from 8% to 11% and reaffirmed its 2026 expense outlook, supporting the case for durable growth.

A recent analyst update lifted second-quarter earnings estimates and cited stronger forecasts for index revenue, market services, and solutions growth after the June metrics release.

Sources:

Nasdaq, SEC, Investing.com

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 insiders have traded $NDAQ stock on the open market 9 times in the past 6 months. Of those trades, 2 have been purchases and 7 have been sales.

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

AB INVESTOR has made 2 purchases buying 256,782 shares for an estimated $20,717,156 and 0 sales.
ADENA T FRIEDMAN (Chair and CEO) sold 113,611 shares for an estimated $9,706,923
COHEN TAL (Pres. Market Platforms) sold 15,518 shares for an estimated $1,408,258
BRADLEY J PETERSON (EVP, CIO) sold 7,710 shares for an estimated $700,222
PC NELSON GRIGGS (Pres. Capital Access Platforms) sold 5,093 shares for an estimated $471,713
BRYAN EVERARD SMITH (EVP, CPO) sold 3,000 shares for an estimated $260,730
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 Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$NDAQ Hedge Fund Activity

We have seen 475 institutional investors add shares of $NDAQ stock to their portfolio, and 496 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS GROUP AG added 3,138,962 shares (+81.5%) to their portfolio in Q1 2026, for an estimated $266,466,484
FARALLON CAPITAL MANAGEMENT LLC removed 2,989,213 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $253,754,291
WINSLOW CAPITAL MANAGEMENT, LLC removed 2,568,537 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $218,043,105
SELECT EQUITY GROUP, L.P. added 1,810,369 shares (+48.2%) to their portfolio in Q1 2026, for an estimated $153,682,224
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added 1,432,672 shares (+5.2%) to their portfolio in Q1 2026, for an estimated $121,619,526
FRANKLIN RESOURCES INC removed 1,415,531 shares (-13.4%) from their portfolio in Q1 2026, for an estimated $120,164,426
WELLINGTON MANAGEMENT GROUP LLP removed 1,380,846 shares (-3.7%) from their portfolio in Q1 2026, for an estimated $117,220,016

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

$NDAQ Congressional Stock Trading

Members of Congress have traded $NDAQ stock 8 times in the past 6 months. Of those trades, 8 have been purchases and 0 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 8 times. They made 8 purchases worth up to $120,000 on 04/24, 03/31, 03/18, 03/10, 03/09, 03/04, 03/03, 02/27 and 0 sales.

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

$NDAQ Analyst Ratings

Wall Street analysts have issued reports on $NDAQ in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Overweight" rating on 01/30/2026
JP Morgan issued a "Overweight" rating on 01/30/2026

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

$NDAQ Price Targets

Multiple analysts have issued price targets for $NDAQ recently. We have seen 7 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
Chris Allen from Keefe, Bruyette & Woods set a target price of $97.0 on 04/24/2026
Michael Cyprys from Morgan Stanley set a target price of $116.0 on 01/30/2026
Ashish Sabadra from RBC Capital set a target price of $108.0 on 01/30/2026
Michael Cho from JP Morgan set a target price of $101.0 on 01/30/2026

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