Adam Inzirillo, Executive Vice President of Data Vantage at Cboe Global Markets, Inc. (BATS:NYSE:CBOE), recently sold shares of the company's common stock. The transaction comes as CBOE shows strong momentum, with the stock delivering a remarkable 52.7% return year-to-date. According to InvestingPro analysis, the company currently appears fairly valued based on its Fair Value assessment. According to a filing with the Securities and Exchange Commission, Inzirillo disposed of 25 shares on December 13, 2024, at a price of $200.43 per share, totaling $5,010. Following the transaction, Inzirillo retains ownership of 1,298 shares. InvestingPro subscribers can access comprehensive insider trading patterns and 8 additional key insights about CBOE, including its impressive 10-year dividend growth streak and overall GOOD financial health score.
In other recent news, CBOE Global Markets has been the subject of varying analyst perspectives. Barclays (LON:BARC) has downgraded the company's stock to an Equal Weight rating, foreseeing potential margin challenges and a sales decline. Conversely, Deutsche Bank (ETR:DBKGn) has upgraded the stock from Hold to Buy, anticipating sustained revenue growth through 2025 due to market volatility and product innovation. However, Morgan Stanley (NYSE:MS) has downgraded the stock from Equal-weight to Underweight, citing concerns over potential slowing growth and margin pressure.
The company has also reported robust third-quarter results, with net revenue reaching a record $532 million, an 11% increase year-over-year. This was primarily driven by a 13% organic net revenue growth in the Derivatives market and a 12% rise in Cash and Spot Markets revenues.
In addition, CBOE is set to introduce the first cash-settled index options based on the price of spot Bitcoin, marking a significant development in the company's expansion into Bitcoin-related options. The company has also completed the Canadian migration to the Cboe technology platform, allowing for resource redeployment to growth areas. These are the recent developments for CBOE Global Markets.
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