Scott Zucker, the Chief Risk Officer of Tradeweb Markets Inc . (NASDAQ:TW), a $31.7 billion market cap company trading near its 52-week high of $141.69, recently sold shares of the company's Class A common stock. According to InvestingPro data, the company's stock has gained over 26% in the past six months, reflecting strong market performance. According to a filing with the Securities and Exchange Commission, Zucker sold a total of 3,654 shares on January 6, 2025. The shares were sold at a weighted average price of $132.3753, totaling approximately $483,699.
This transaction was executed under a Rule 10b5-1 trading plan, which Zucker adopted on August 15, 2024. Following this sale, Zucker retains ownership of 23,048 shares of Tradeweb Markets, including several unvested restricted stock units scheduled to vest over the next few years. The company maintains strong fundamentals with a high P/E ratio of 63.18 and excellent liquidity, as indicated by its current ratio of 3.13.
In other recent news, Tradeweb Markets Inc. has been the subject of various developments. The company reported record revenues for Q3 2024, marking a significant 36.7% increase from the previous year, reaching a total of $449 million. This growth was attributed to an increase in market share and expansion across multiple asset classes. In addition, Tradeweb reported a year-over-year surge of 34.1% in its average daily volume (ADV) for October 2024, reaching a noteworthy $2.35 trillion.
On the analyst front, Raymond (NS:RYMD) James analyst Patrick O'Shaughnessy increased the price target for Tradeweb to $141 from $138, while maintaining an Outperform rating on the company's shares. O'Shaughnessy's optimistic outlook is based on recent trends showing robust volumes and significant gains in market share for key products.
Tradeweb has also completed the acquisition and integration of ICD ahead of schedule, positively impacting the company's yield broker and rate fin revenues. Moreover, the company has announced a quarterly dividend of $0.10 per share and is projecting strong free cash flow. These are the latest in a series of recent developments surrounding Tradeweb Markets Inc.
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