Interactive Brokers (IBKR)

• Market cap: $19.2B
• 1 day: 1.23%
• 5 days: -1.99%
• 1 month: -6.36%
• 3 months: 32.25%
• 6 months: 46.30%
• Year to date: 108.07%
• 1 year: 115.96%
• 5 years: 271.92%
• 10 years: 498.57%
• Sector: Financials
• Industry: Security Brokers, Dealers & Flotation Companies

About: Interactive Brokers is an online brokerage that generates trading commissions (around 31% of net revenue) from facilitating trading in a wide range of products, including equity, options, futures, foreign exchange, bonds, mutual funds, and exchange-traded funds. Interactive Brokers also generates net interest income (about 64% of net revenue) from idle client cash and earns fees (about 6% of net revenue) from ancillary services. Principal trading and other miscellaneous activities are small (about 5% of net revenue). The firm derives about 70% of its net revenue from the US and 30% from international markets.

Employees: 2,969

Fund manager confidence

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

52% more first-time investments, than exits

New positions opened: 93 | Existing positions closed: 61

27% more repeat investments, than reductions

Existing positions increased: 230 | Existing positions reduced: 181

10% more capital invested

Capital invested by funds: $11.6B [Q2] → $12.7B (+$1.12B) [Q3]

6% more funds holding

Funds holding: 544 [Q2] → 576 (+32) [Q3]

4% more funds holding in top 10

Funds holding in top 10: 23 [Q2] → 24 (+1) [Q3]

10% less call options, than puts

Call options by funds: $125M | Put options by funds: $139M

4.39% less ownership

Funds ownership: 88.42% [Q2] → 84.04% (-4.39%) [Q3]

Research analyst outlook

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

• Low target: $70 60% downside
• Avg. target: $159 10% downside
• High target: $195 11% upside

6 analyst ratings

• positive: 5 83%
• neutral: 1 17%
• negative: 0 0%

Keefe, Bruyette & Woods Kyle Voigt 83% 1-year accuracy 20 / 24 met price target	8% upside $190	Market Perform Maintained	20 Dec 2024
Barclays Benjamin Budish 69% 1-year accuracy 72 / 104 met price target	60% downside $70	Overweight Maintained	9 Dec 2024
Goldman Sachs James Yaro 33% 1-year accuracy 1 / 3 met price target	11% upside $195	Buy Maintained	3 Dec 2024
Piper Sandler Patrick Moley 78% 1-year accuracy 31 / 40 met price target	7% downside $163	Overweight Reiterated	16 Oct 2024
UBS Brennan Hawken 74% 1-year accuracy 29 / 39 met price target	3% downside $170	Buy Maintained	8 Oct 2024