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Nasdaq Inc - 144A (NDAQ)

Nasdaq is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $9.1 trillion and more than 10,000 corporate clients.

Company profile

Ticker
NDAQ
Exchange
Website
CEO
Robert Greifeld
Employees
Incorporated
Location
Fiscal year end
Former names
NASDAQ OMX GROUP, INC., NASDAQ STOCK MARKET INC
SEC CIK
Subsidiaries
1.BoardVantage, Inc • 2.Boston Stock Exchange Clearing Corporation • 3.Cinnober Americas Inc. • 4.Consolidated Securities Source LLC • 5.Content Services, LLC • 6.Copeland Markets LLC • 7.Curzon Street Acquisition, LLC • 8.Directors Desk, LLC • 9.Dorsey, Wright & Associates, LLC • 10.ETC Acquisition Corp. ...
IRS number
521165937

NDAQ stock data

Calendar

3 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Sep 22 Skule Jeremy Common stock, par value $0.01 per share Sell Dispose S No Yes 59.8 2,100 125.58K 58,581
8 Sep 22 Dennison Ann M Common Stock, par value $0.01 per share Sell Dispose S No No 62 6,500 403K 50,345
7 Sep 22 Peterson Bradley J Common Stock, par value $0.01 Sell Dispose S No Yes 61.67 12,000 740.04K 135,765
22 Aug 22 Skule Jeremy Common stock, par value $0.01 per share Sell Dispose S No Yes 186.13 700 130.29K 20,227
12 Aug 22 Griggs PC Nelson Common Stock, par value $0.01 per share Sell Dispose S No No 189.11 980 185.33K 55,036
13F holders Current Prev Q Change
Total holders 631 664 -5.0%
Opened positions 58 71 -18.3%
Closed positions 91 109 -16.5%
Increased positions 225 255 -11.8%
Reduced positions 239 233 +2.6%
13F shares Current Prev Q Change
Total value 18.24B 21.32B -14.4%
Total shares 119.23M 119.69M -0.4%
Total puts 416K 347.3K +19.8%
Total calls 557.1K 388.5K +43.4%
Total put/call ratio 0.7 0.9 -16.5%
Largest owners Shares Value Change
IVSBF Investor AB 19.39M $2.96B 0.0%
Vanguard 12.93M $1.97B +1.3%
Massachusetts Financial Services 12.22M $1.86B +5.4%
BLK Blackrock 8.18M $1.25B -4.5%
Capital World Investors 5.52M $842.02M -32.9%
STT State Street 4.99M $760.72M -8.8%
Capital Research Global Investors 4.57M $697.25M +301.7%
Geode Capital Management 2.49M $378.8M +0.6%
BEN Franklin Resources 2.05M $312.42M +4.6%
Diamond Hill Capital Management 2.04M $311.01M -2.9%
Largest transactions Shares Bought/sold Change
Capital Research Global Investors 4.57M +3.43M +301.7%
Capital World Investors 5.52M -2.71M -32.9%
NN Investment Partners 0 -1.01M EXIT
GS Goldman Sachs 1.67M +962.98K +135.4%
Massachusetts Financial Services 12.22M +629.43K +5.4%
IVZ Invesco 1.31M +553.1K +72.7%
Citadel Advisors 528.63K +507.16K +2361.6%
STT State Street 4.99M -483.95K -8.8%
Renaissance Technologies 53.3K -466.3K -89.7%
Parametric Portfolio Associates 0 -449.65K EXIT

Financial report summary

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Risks
  • Economic conditions and market factors, which are beyond our control, may adversely affect our business and financial condition.
  • The industries we operate in are highly competitive.
  • We must continue to introduce new products, initiatives and enhancements to maintain our competitive position.
  • A decline in trading and clearing volumes or values or market share will decrease our trading and clearing revenues.
  • Our role in the global marketplace may place us at greater risk for a cyberattack.
  • The success of our business depends on our ability to keep up with rapid technological and other competitive changes affecting our industry. Specifically, we must complete development of, successfully implement and maintain platforms that have the functionality, performance, capacity, reliability and speed required by our business and our regulators, as well as by our customers.
  • Failure to attract and retain key personnel may adversely affect our ability to conduct our business.
  • Our clearinghouse operations expose us to risks, including credit or liquidity risks that may include defaults by clearing members, or insufficiencies in margins or default funds.
  • We are exposed to credit risk from third parties, including customers, counterparties and clearing agents.
  • Technology issues relating to our role as exclusive processor for Nasdaq-listed stocks could affect our business.
  • Stagnation or decline in the listings market could have an adverse effect on our revenues.
  • We may not be able to successfully integrate acquired businesses, which may result in an inability to realize the anticipated benefits of our acquisitions.
  • We rely on third parties to perform certain functions, and our business could be adversely affected if these third parties fail to perform as expected or experience service interruptions affecting our operations.
  • We may be required to recognize impairments of our goodwill, intangible assets or other long-lived assets in the future.
  • Acquisitions, divestments, investments, joint ventures and other transactional activities may require significant resources and/or result in significant unanticipated losses, costs or liabilities.
  • Charges to earnings resulting from acquisition, integration and restructuring costs may materially adversely affect the market value of our common stock.
  • We operate in a highly regulated industry and may be subject to censures, fines and enforcement proceedings if we fail to comply with regulatory obligations that can be ambiguous and can change unexpectedly.
  • The regulatory framework under which we operate and new regulatory requirements or new interpretations of existing regulatory requirements could require substantial time and resources for compliance, which could make it difficult and costly for us to operate our business.
  • Regulatory changes and changes in market structure and proprietary data could have a material adverse effect on our business.
  • We are subject to litigation risks and other liabilities.
  • We have self-regulatory obligations and also operate for-profit businesses, and these two roles may create conflicts of interest.
  • Laws and regulations regarding the handling of personal data and information may affect our services or result in increased costs, legal claims or fines against us.
  • Changes in tax laws, regulations or policies could have a material adverse effect on our financial results.
  • Our credit rating could increase the cost of our funding from the capital markets.
  • Our leverage limits our financial flexibility, increases our exposure to weakening economic conditions and may adversely affect our ability to obtain additional financing.
  • We will need to invest in our operations to maintain and grow our business and to integrate acquisitions, and we may need additional funds, which may not be readily available.
  • Damage to our reputation or brand name could have a material adverse effect on our businesses.
  • Failure to meet customer expectations or deadlines for the implementation of our products could result in negative publicity, losses and reduced sales, each of which may harm our reputation, business and results of operations.
  • Failure to protect our intellectual property rights, or allegations that we have infringed on the intellectual property rights of others, could harm our brand-building efforts and ability to compete effectively.
  • We are a holding company that depends on cash flow from our subsidiaries to meet our obligations, and any restrictions on our subsidiaries’ ability to pay dividends or make other payments to us may have a material adverse effect on our results of operations and financial condition.
  • We may experience fluctuations in our operating results, which may adversely affect the market price of our common stock.
  • Our operational processes are subject to the risk of error, which may result in financial loss or reputational damage.
  • Climate change may have a long-term adverse impact on our business, and climate change disclosure requirements may reduce demand for listings on our exchanges.
  • Our businesses operate in various international markets, including certain emerging markets that are subject to greater political, economic and social uncertainties than developed countries.
  • Unforeseen or catastrophic events could interrupt our critical business functions. In addition, our U.S. and European businesses are heavily concentrated in particular areas and may be adversely affected by events in those areas.
  • Because we have operations in numerous countries, we are exposed to currency risk.
  • If our risk management methods are not effective, our business, reputation and financial results may be adversely affected.
  • Decisions to declare future dividends on our common stock will be at the discretion of our board of directors and there can be no guarantee that we will pay future dividends to our stockholders.
  • Provisions of our certificate of incorporation, by-laws, exchange rules (including provisions included to address SEC concerns) and governing law restrict the ownership and voting of our common stock. In addition, such provisions could delay or prevent a change in control of us and entrench current management.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: Bradley, browser, CFTC, charter, contest, description, enforcement, equivalent, experience, formal, hearing, Metrio, Montreal, NFX, NMS, opportunity, Peterson, rebalancing, reconstitution, Reg, Russell, slightly, telephonic, thereunder, Trader, violated, wrongdoing
Removed: agreed, al, ASU, benchmarked, case, certified, Circuit, Civ, counsel, district, exclusion, focused, inclusion, indenture, judgment, longer, manipulate, precluded, reflective, scheme, Southern, storage, trustee, United, view, York