MarketAxess (NASDAQ:MKTX) Price Target Lowered to $210.00 at The Goldman Sachs Group

MarketAxess (NASDAQ:MKTX) had its price objective lowered by research analysts at The Goldman Sachs Group from $235.00 to $210.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 5.45% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. UBS Group dropped their price target on shares of MarketAxess from $330.00 to $305.00 and set a “buy” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Morgan Stanley raised their price target on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler dropped their price target on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays dropped their target price on shares of MarketAxess from $256.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, MarketAxess presently has a consensus rating of “Hold” and a consensus target price of $254.78.

MarketAxess Price Performance

Shares of MKTX traded down $2.23 during trading hours on Monday, hitting $199.15. The stock had a trading volume of 101,982 shares, compared to its average volume of 498,014. The firm has a 50 day simple moving average of $226.61 and a 200-day simple moving average of $247.22. The firm has a market capitalization of $7.51 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 4.08 and a beta of 1.02. MarketAxess has a 1-year low of $192.42 and a 1-year high of $296.68.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. Equities analysts predict that MarketAxess will post 8.05 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Scott Pintoff sold 300 shares of MarketAxess stock in a transaction on Monday, December 9th. The shares were sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the sale, the general counsel now directly owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard M. Mcvey sold 10,000 shares of MarketAxess stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the sale, the chairman now directly owns 562,029 shares of the company’s stock, valued at $150,438,302.43. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,300 shares of company stock worth $8,183,871 in the last three months. Corporate insiders own 2.66% of the company’s stock.

Institutional Trading of MarketAxess

A number of hedge funds have recently made changes to their positions in MKTX. Accent Capital Management LLC bought a new stake in MarketAxess in the third quarter worth $25,000. Global X Japan Co. Ltd. lifted its stake in MarketAxess by 179.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 109 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in MarketAxess by 495.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 125 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in MarketAxess by 13,900.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 140 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 139 shares during the last quarter. Finally, Park Place Capital Corp bought a new stake in MarketAxess in the fourth quarter worth $44,000. 99.01% of the stock is owned by institutional investors.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.