Virtu Financial, Inc.
VIRT · Security Brokers, Dealers & Flotation Companies · 94.1M shares · -5%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$62M (gross $2M, SBC $64M)
Reference price $49.82 · est. market cap ~$4.7B — last insider sale, 2026-05-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Low-cost global market maker with top-decile ROE and double-digit revenue growth, tempered by volatile, volume-dependent earnings.
Strengths
- ROE 29.6% (96.2nd pct) with revenue growth 12.9% (88.9th)
- Scaled, diversified multi-asset technology platform and consistent FCF
Risks
- Earnings hinge on trading volumes/volatility and can swing sharply
- High leverage (D/E 1.3), thin tangible book (11th pct) and founder super-voting control
Notable findings
- RestatementPrior to our IPO, we completed a series of reorganization transactions (the “Reorganization Transactions”) pursuant to which, among other things, we acquired equity interests in Virtu Financial as a r 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Buying back stockNet buyback — share count -5%/yr over 4y
- Insider sellingInsider selling — 15 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$13M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
12.9%
Return on equity
29.6%
Return on assets
2.3%
Revenue growth (QoQ)
12.9%
Debt / equity
1.3×
Free cash flow
$496M
Tangible book value
$278M
Cash & investments
$1.1B
Stock comp / revenue
2.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-08 | Fairclough Brett | Sell | 15K | $49.82 |
| 2026-05-08 | Fairclough Brett | Sell | 15K | $50.29 |
| 2026-05-05 | Gambale Virginia | Sell | 4.0K | $50.00 |
| 2026-02-19 | Molluso Joseph | Sell | 200K | $38.88 |
| 2026-02-17 | Cavoli Stephen | Sell | 28K | $38.94 |
| 2026-02-13 | Cavoli Stephen | Sell | 15K | $38.23 |
| 2026-02-13 | Cavoli Stephen | Sell | 15K | $38.47 |
| 2026-02-12 | Cavoli Stephen | Sell | 15K | $37.41 |
| 2026-02-12 | Cavoli Stephen | Sell | 15K | $37.81 |
| 2026-02-11 | Cavoli Stephen | Sell | 4.6K | $39.14 |
| 2026-02-11 | Cavoli Stephen | Sell | 7.1K | $38.34 |
| 2026-02-05 | Gambale Virginia | Sell | 3.0K | $37.50 |
| 2026-02-04 | Molluso Joseph | Tax withheld | 8.3K | — |
| 2026-02-04 | Lee Cindy | Option exercise | 1.2K | — |
| 2026-02-04 | Lee Cindy | Tax withheld | 589 | — |
| 2026-02-04 | Lee Cindy | Option exercise | 12K | — |
| 2026-02-04 | Lee Cindy | Tax withheld | 6.3K | — |
| 2026-02-04 | Lee Cindy | Grant | 5.5K | — |
| 2026-02-04 | Lee Cindy | Tax withheld | 2.8K | — |
| 2026-02-04 | Simons Aaron Wyatt | Tax withheld | 8.5K | — |
| 2026-02-04 | Fairclough Brett | Option exercise | 7.5K | — |
| 2026-02-04 | Fairclough Brett | Tax withheld | 3.0K | — |
| 2026-02-04 | Fairclough Brett | Grant | 15K | — |
| 2026-02-04 | Fairclough Brett | Tax withheld | 5.9K | — |
| 2026-02-04 | Cavoli Stephen | Option exercise | 7.5K | — |
| 2026-02-04 | Cavoli Stephen | Tax withheld | 3.8K | — |
| 2026-02-04 | Cavoli Stephen | Grant | 15K | — |
| 2026-02-04 | Cavoli Stephen | Tax withheld | 7.7K | — |
| 2026-02-04 | Molluso Joseph | Grant | 15K | — |
| 2026-02-04 | Simons Aaron Wyatt | Option exercise | 7.5K | — |
| 2026-02-04 | Simons Aaron Wyatt | Tax withheld | 3.0K | — |
| 2026-02-04 | Simons Aaron Wyatt | Grant | 21K | — |
| 2026-02-03 | Lee Cindy | Tax withheld | 1.2K | — |
| 2026-02-03 | Simons Aaron Wyatt | Option exercise | 12K | — |
| 2026-02-03 | Simons Aaron Wyatt | Tax withheld | 4.6K | — |
| 2026-02-03 | Lee Cindy | Option exercise | 3.1K | — |
| 2026-02-03 | Molluso Joseph | Option exercise | 12K | — |
| 2026-02-03 | Molluso Joseph | Tax withheld | 6.4K | — |
| 2026-02-03 | Cavoli Stephen | Option exercise | 12K | — |
| 2026-02-03 | Fairclough Brett | Option exercise | 12K | — |
| 2026-02-03 | Fairclough Brett | Tax withheld | 4.6K | — |
| 2026-02-03 | Cavoli Stephen | Tax withheld | 5.9K | — |
| 2026-02-02 | Molluso Joseph | Tax withheld | 6.2K | — |
| 2026-02-02 | Lee Cindy | Option exercise | 2.7K | — |
| 2026-02-02 | Lee Cindy | Tax withheld | 1.1K | — |
| 2026-02-02 | Molluso Joseph | Option exercise | 11K | — |
| 2026-02-02 | Cavoli Stephen | Option exercise | 10K | — |
| 2026-02-02 | Cavoli Stephen | Tax withheld | 5.3K | — |
| 2026-02-02 | Simons Aaron Wyatt | Option exercise | 12K | — |
| 2026-02-02 | Simons Aaron Wyatt | Tax withheld | 4.8K | — |
| 2026-02-02 | Fairclough Brett | Option exercise | 11K | — |
| 2026-02-02 | Fairclough Brett | Tax withheld | 4.5K | — |
| 2026-02-02 | Cavoli Stephen | Option exercise | 10K | — |
| 2026-02-02 | Cavoli Stephen | Sell | 5.3K | — |
| 2026-01-31 | Simons Aaron Wyatt | Option exercise | 38K | — |
| 2026-01-31 | Simons Aaron Wyatt | Tax withheld | 15K | — |
| 2026-01-31 | Simons Aaron Wyatt | Grant | 53K | — |
| 2026-01-31 | Simons Aaron Wyatt | Tax withheld | 21K | — |
| 2026-01-31 | Cavoli Stephen | Grant | 38K | — |
| 2026-01-31 | Cavoli Stephen | Sell | 19K | — |
| 2026-01-31 | Fairclough Brett | Option exercise | 38K | — |
| 2026-01-31 | Fairclough Brett | Tax withheld | 15K | — |
| 2026-01-31 | Fairclough Brett | Grant | 38K | — |
| 2026-01-31 | Fairclough Brett | Tax withheld | 15K | — |
| 2026-01-31 | Molluso Joseph | Option exercise | 38K | — |
| 2026-01-31 | Molluso Joseph | Grant | 38K | — |
| 2026-01-31 | Molluso Joseph | Tax withheld | 21K | — |
| 2026-01-31 | Molluso Joseph | Tax withheld | 21K | — |
| 2026-01-31 | Cavoli Stephen | Option exercise | 38K | — |
| 2026-01-31 | Cavoli Stephen | Tax withheld | 19K | — |
| 2026-01-31 | Cavoli Stephen | Grant | 38K | — |
| 2026-01-31 | Cavoli Stephen | Tax withheld | 19K | — |
| 2026-01-31 | Cavoli Stephen | Option exercise | 38K | — |
| 2026-01-31 | Cavoli Stephen | Sell | 19K | — |
| 2025-11-04 | Gambale Virginia | Sell | 3.9K | $34.57 |
| 2025-08-07 | Fairclough Brett | Sell | 91K | $42.40 |
| 2025-08-06 | Nixon John | Gift | 4.0K | — |
| 2025-08-01 | Virtu Employee Holdco LLC | Disposition | 225K | — |
| 2025-08-01 | Lee Cindy | Tax withheld | 6.5K | — |
| 2025-08-01 | Lee Cindy | Option exercise | 12K | — |
| 2025-07-03 | Minieri Joanne | Option exercise | 6.7K | — |
| 2025-07-03 | Cruger William Frank Jr. | Option exercise | 6.7K | — |
| 2025-07-03 | Viola Michael T | Option exercise | 6.7K | — |
| 2025-07-03 | Quick Christopher C | Option exercise | 6.7K | — |
| 2025-07-03 | Urban David | Option exercise | 6.7K | — |
| 2025-07-03 | Nixon John | Option exercise | 6.7K | — |
| 2025-07-03 | GRANO JOSEPH J JR | Option exercise | 6.7K | — |
| 2025-07-01 | Molluso Joseph | Option exercise | 98K | — |
| 2025-07-01 | Gambale Virginia | Option exercise | 6.7K | — |
| 2025-07-01 | Molluso Joseph | Tax withheld | 52K | — |
| 2025-05-13 | Nixon John | Sell | 7.0K | $42.82 |
| 2025-04-28 | Cifu Douglas A | Sell | 90K | $39.13 |
| 2025-04-28 | Cifu Douglas A | Sell | 88K | $38.63 |
| 2025-04-25 | Cifu Douglas A | Sell | 85K | $38.76 |
| 2025-04-25 | Cifu Douglas A | Sell | 94K | $38.40 |
| 2025-04-11 | TJMT Holdings LLC | Option exercise | 694K | $19.00 |
| 2025-04-01 | Cifu Douglas A | Gift | 114K | — |
| 2025-04-01 | Cifu Douglas A | Gift | 114K | — |
| 2025-02-19 | Nixon John | Gift | 4.1K | — |
| 2025-02-18 | Cavoli Stephen | Sell | 34K | $37.41 |
| 2025-02-14 | Cavoli Stephen | Sell | 34K | $36.88 |
| 2025-02-12 | Fairclough Brett | Sell | 73K | $36.84 |
| 2025-02-04 | Lee Cindy | Tax withheld | 1.3K | — |
| 2025-02-04 | Lee Cindy | Grant | 2.3K | — |
| 2025-02-04 | Lee Cindy | Tax withheld | 1.3K | — |
| 2025-02-04 | Lee Cindy | Grant | 2.3K | — |
| 2025-02-04 | Cifu Douglas A | Grant | 30K | — |
| 2025-02-04 | Cifu Douglas A | Tax withheld | 13K | — |
| 2025-02-04 | Cifu Douglas A | Grant | 30K | — |
| 2025-02-04 | Cifu Douglas A | Sell | 13K | — |
| 2025-02-04 | Fairclough Brett | Grant | 15K | — |
| 2025-02-04 | Fairclough Brett | Tax withheld | 5.9K | — |
| 2025-02-04 | Cavoli Stephen | Grant | 15K | — |
| 2025-02-04 | Cavoli Stephen | Tax withheld | 7.7K | — |
| 2025-02-04 | Lee Cindy | Grant | 2.3K | — |
| 2025-02-04 | Lee Cindy | Tax withheld | 1.3K | — |
| 2025-02-04 | Molluso Joseph | Grant | 15K | — |
| 2025-02-04 | Molluso Joseph | Tax withheld | 8.3K | — |
| 2025-02-03 | Lee Cindy | Tax withheld | 2.7K | — |
| 2025-02-03 | Cavoli Stephen | Option exercise | 8.1K | — |
| 2025-02-03 | Cavoli Stephen | Tax withheld | 4.2K | — |
| 2025-02-03 | Cavoli Stephen | Option exercise | 12K | — |
| 2025-02-03 | Cavoli Stephen | Tax withheld | 5.9K | — |
| 2025-02-03 | Fairclough Brett | Option exercise | 8.1K | — |
| 2025-02-03 | Fairclough Brett | Tax withheld | 3.2K | — |
| 2025-02-03 | Fairclough Brett | Option exercise | 12K | — |
| 2025-02-03 | Fairclough Brett | Tax withheld | 4.6K | — |
| 2025-02-03 | Lee Cindy | Option exercise | 3.1K | — |
| 2025-02-03 | Lee Cindy | Tax withheld | 1.3K | — |
| 2025-02-03 | Lee Cindy | Option exercise | 2.0K | — |
| 2025-02-03 | Lee Cindy | Tax withheld | 787 | — |
| 2025-02-03 | Lee Cindy | Option exercise | 6.7K | — |
| 2025-02-02 | Cifu Douglas A | Option exercise | 24K | — |
| 2025-02-02 | Fairclough Brett | Option exercise | 11K | — |
| 2025-02-02 | Fairclough Brett | Tax withheld | 4.7K | — |
| 2025-02-02 | Cavoli Stephen | Option exercise | 10K | — |
| 2025-02-02 | Cavoli Stephen | Tax withheld | 5.3K | — |
| 2025-02-02 | Lee Cindy | Option exercise | 2.7K | — |
| 2025-02-02 | Lee Cindy | Tax withheld | 1.1K | — |
| 2025-02-02 | Cifu Douglas A | Tax withheld | 8.1K | — |
| 2025-01-31 | Molluso Joseph | Tax withheld | 21K | — |
| 2025-01-31 | Molluso Joseph | Grant | 38K | — |
| 2025-01-31 | Molluso Joseph | Tax withheld | 21K | — |
| 2025-01-31 | Cavoli Stephen | Grant | 38K | — |
| 2025-01-31 | Cavoli Stephen | Tax withheld | 19K | — |
| 2025-01-31 | Cavoli Stephen | Option exercise | 38K | — |
| 2025-01-31 | Cavoli Stephen | Tax withheld | 19K | — |
| 2025-01-31 | Virtu Employee Holdco LLC | Disposition | 367K | — |
| 2025-01-31 | Cifu Douglas A | Option exercise | 75K | — |
| 2025-01-31 | Cifu Douglas A | Tax withheld | 35K | — |
| 2025-01-31 | Fairclough Brett | Option exercise | 38K | — |
| 2025-01-31 | Fairclough Brett | Tax withheld | 11K | — |
| 2025-01-31 | Fairclough Brett | Grant | 38K | — |
| 2025-01-31 | Fairclough Brett | Tax withheld | 18K | — |
| 2025-01-31 | Cifu Douglas A | Grant | 75K | — |
| 2025-01-31 | Cifu Douglas A | Tax withheld | 31K | — |
| 2025-01-31 | Molluso Joseph | Option exercise | 38K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-10 | 0001104659-26-072331 ↗ |
| 8-K | 2026-06-09 | 2026-06-09 | 0001104659-26-071832 ↗ |
| 10-Q | 2026-05-01 | 2026-03-31 | 0001592386-26-000016 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001592386-26-000012 ↗ |
| 10-K | 2026-02-20 | 2025-12-31 | 0001592386-26-000009 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001592386-26-000003 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001592386-25-000149 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001592386-25-000144 ↗ |
| 8-K | 2025-10-02 | 2025-09-30 | 0001592386-25-000141 ↗ |
| 8-K | 2025-09-23 | 2025-09-23 | 0001592386-25-000139 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0001592386-25-000123 ↗ |
| 8-K | 2025-07-31 | 2025-07-30 | 0000950142-25-002061 ↗ |