Tradeweb Markets (TW)

• Market cap: $27.3B
• 1 day: -0.86%
• 5 days: -2.01%
• 1 month: -4.05%
• 3 months: -4.88%
• 6 months: 16.41%
• Year to date: -2.60%
• 1 year: 30.41%
• 5 years: 179.16%
• 10 years: 257.19%
• 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

39% more first-time investments, than exits

New positions opened: 61 | Existing positions closed: 44

33% more funds holding in top 10

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

13% more capital invested

Capital invested by funds: $12.7B [Q2] → $14.3B (+$1.61B) [Q3]

3% more funds holding

Funds holding: 430 [Q2] → 441 (+11) [Q3]

8% more repeat investments, than reductions

Existing positions increased: 166 | Existing positions reduced: 153

3.82% less ownership

Funds ownership: 103.13% [Q2] → 99.31% (-3.82%) [Q3]

Research analyst outlook

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

• Low target: $131 2% upside
• Avg. target: $146 14% upside
• High target: $154 20% upside

5 analyst ratings

• positive: 4 80%
• neutral: 1 20%
• negative: 0 0%

Barclays Benjamin Budish 78% 1-year accuracy 90 / 115 met price target	20% upside $154	Overweight Maintained	13 Jan 2025
Keefe, Bruyette & Woods Kyle Voigt 81% 1-year accuracy 22 / 27 met price target	17% upside $150	Outperform Upgraded	20 Dec 2024
Deutsche Bank Brian Bedell 79% 1-year accuracy 34 / 43 met price target	2% upside $131	Hold Maintained	11 Nov 2024
TD Cowen Bill Katz 91% 1-year accuracy 31 / 34 met price target	18% upside $151	Buy Maintained	31 Oct 2024
JP Morgan Kenneth Worthington 73% 1-year accuracy 27 / 37 met price target	14% upside $146	Overweight Maintained	23 Oct 2024