Bradley J. Peterson, Executive Vice President at Nasdaq, Inc. (NASDAQ:NDAQ), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Peterson disposed of 13,642 shares of common stock on October 28, 2024. The shares were sold at prices ranging from $75.25 to $75.38, totaling approximately $1.03 million. Following this transaction, Peterson retains ownership of 142,830 shares, which includes vested restricted stock, performance stock units, and shares purchased under the Employee Stock Purchase Plan.
In other recent news, Nasdaq has showcased a strong performance in the third quarter of 2024, marking its fourth consecutive quarter of double-digit growth. The company reported a 10% increase in both net revenues and solutions revenue, with total annualized recurring revenue (ARR) reaching $2.7 billion, an 8% rise from the previous year. This growth has been significantly influenced by the successful integration of AxiomSL and Calypso, with Nasdaq achieving over 80% of its net expense synergies target.
Despite a 5% increase in operating expenses, the operating margin improved to 54%. The company's leadership, CEO Adena Friedman and CFO Sarah Youngwood, emphasized the strength of Nasdaq’s diversified business model and its positioning for sustainable growth. Looking forward, Nasdaq is optimistic about its revenue growth trajectory and is tightening its non-GAAP expense guidance.
The company also reported a 10% growth in its fintech pipeline and a 9% increase in capital access revenue. Nasdaq's commitment to leveraging its diversified business model for sustained growth was evident throughout the call, with the company remaining poised for future success amid evolving market dynamics. These are the recent developments regarding Nasdaq.
InvestingPro Insights
The recent sale by Nasdaq's Executive Vice President Bradley J. Peterson comes at a time when the company's stock is trading near its 52-week high, as indicated by InvestingPro data. This aligns with one of the InvestingPro Tips, which notes that Nasdaq is "Trading near 52-week high." The stock's strong performance is further underscored by its impressive 57.51% total return over the past year.
Despite the executive's sale, Nasdaq continues to demonstrate financial strength. The company's revenue growth of 16.97% over the last twelve months and a robust EBITDA growth of 23.62% in the same period suggest a solid operational performance. These metrics provide context to another InvestingPro Tip, which states that Nasdaq has shown a "High return over the last year."
It's worth noting that Nasdaq has maintained a consistent dividend policy, having raised its dividend for 13 consecutive years according to InvestingPro Tips. This commitment to shareholder returns may be attractive to income-focused investors, even as the stock trades at a relatively high P/E ratio of 44.87.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips on Nasdaq, providing a deeper insight into the company's financial health and market position.
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