Tradeweb Markets (TW)

• Market cap: $28.8B
• 1 day: 0.05%
• 5 days: 5.24%
• 1 month: 0.45%
• 3 months: 16.13%
• 6 months: 21.37%
• Year to date: 51.31%
• 1 year: 43.04%
• 5 years: 203.87%
• 10 years: 277.19%
• Sector: Financials
• Industry: Security & Commodity Brokers, Dealers, Exchanges & Services

About: Founded in 1998 and headquartered in New York City, Tradeweb Markets is a leading fixed-income trading platform. While it does offer electronic processing for some voice-negotiated trades, the company focuses primarily on providing electronic trading networks that connect broker/dealers, institutional clients, and retail customers. While the company offers trading in a wide variety of products, the bulk of its business is in U.S. and European government debt, mortgage-backed securities, interest-rate swaps, and U.S. and international corporate bonds. The firm also sells fixed-income trading and price data, primarily through a deal with Refinitiv's Eikon service.

Employees: 1,179

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

135% more call options, than puts

Call options by funds: $36.2M | Put options by funds: $15.4M

33% more funds holding in top 10

Funds holding in top 10: 3 [Q2] → 4 (+1) [Q3]

16% more first-time investments, than exits

New positions opened: 58 | Existing positions closed: 50

13% more capital invested

Capital invested by funds: $12.5B [Q2] → $14.1B (+$1.58B) [Q3]

2% more funds holding

Funds holding: 430 [Q2] → 438 (+8) [Q3]

8% more repeat investments, than reductions

Existing positions increased: 166 | Existing positions reduced: 153

3.78% less ownership

Funds ownership: 101.48% [Q2] → 97.71% (-3.78%) [Q3]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $117 13% downside
• Avg. target: $138 2% upside
• High target: $151 12% upside

11 analyst ratings

• positive: 8 73%
• neutral: 3 27%
• negative: 0 0%

Deutsche Bank Brian Bedell 81% 1-year accuracy 26 / 32 met price target	3% downside $131	Hold Maintained	11 Nov 2024
Barclays Benjamin Budish 76% 1-year accuracy 53 / 70 met price target	10% upside $149	Overweight Maintained	31 Oct 2024
TD Cowen Bill Katz 94% 1-year accuracy 30 / 32 met price target	12% upside $151	Buy Maintained	31 Oct 2024
JP Morgan Kenneth Worthington 67% 1-year accuracy 18 / 27 met price target	8% upside $146	Overweight Maintained	23 Oct 2024
Piper Sandler Patrick Moley 91% 1-year accuracy 32 / 35 met price target	6% downside $127	Neutral Maintained	8 Oct 2024