Jeremy Skule, Executive Vice President at Nasdaq, Inc. (NASDAQ:NDAQ), recently sold 12,000 shares of the company's common stock. The sale, executed on November 6, 2024, was carried out at a weighted average price of $77.92 per share, resulting in a total transaction value of $935,040. Following this transaction, Skule holds 114,580 shares directly. The shares were sold in multiple trades at prices ranging from $76.34 to $79.24.
In other recent news, Nasdaq has reported impressive Q3 results, marking the fourth consecutive quarter of double-digit growth. The company's net revenues and solutions revenue both saw a 10% increase, with total annualized recurring revenue reaching $2.7 billion, an 8% rise from the previous year. The successful integration of AxiomSL and Calypso has significantly contributed to this growth, helping Nasdaq achieve over 80% of its net expense synergies target. Despite a 5% increase in operating expenses, the operating margin improved to 54%.
Recent developments also include Nasdaq's anticipation of increased trading activity and IPOs in 2025 due to a stable macroeconomic environment. The company expects continued revenue growth and has tightened its non-GAAP expense guidance for the year. Nasdaq's strategic initiatives and outlook were discussed by CEO Adena Friedman and CFO Sarah Youngwood, who emphasized the strength of Nasdaq’s diversified business model and its positioning for sustainable growth. The company aims to exceed $100 million in cross-sells by the end of 2027. These developments indicate Nasdaq's commitment to leveraging its diversified business model for sustained growth amid evolving market dynamics.
InvestingPro Insights
As Jeremy Skule's recent stock sale catches attention, it's worth examining Nasdaq, Inc.'s current market position and performance metrics. According to InvestingPro data, Nasdaq boasts a substantial market capitalization of $45.23 billion, reflecting its significant presence in the financial markets infrastructure sector.
The company's stock has shown remarkable strength, with a 53.39% price total return over the past year. This impressive performance is further underscored by the fact that Nasdaq is trading near its 52-week high, with its current price at 99.21% of that peak. These metrics align with an InvestingPro Tip indicating that Nasdaq has experienced a strong return over the last three months, suggesting sustained investor confidence.
Financially, Nasdaq has demonstrated solid growth, with revenue increasing by 16.97% over the last twelve months to $7.017 billion. The company's profitability remains robust, with a gross profit margin of 64.69% for the same period. These figures support another InvestingPro Tip that Nasdaq has been profitable over the last twelve months.
For investors considering Nasdaq's long-term potential, it's noteworthy that the company has raised its dividend for 13 consecutive years, as highlighted by an InvestingPro Tip. This consistent dividend growth may be attractive to income-focused investors, although the current dividend yield stands at a modest 1.23%.
It's important to note that while Nasdaq's performance has been strong, it is trading at a high earnings multiple with a P/E ratio of 46.85. This valuation metric suggests that investors are pricing in expectations of continued growth and market leadership.
For readers interested in a more comprehensive analysis, InvestingPro offers 13 additional tips on Nasdaq, providing a deeper insight into the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.