Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) Insider Sells 601 Shares of Stock

by · The Cerbat Gem

Intercontinental Exchange, Inc. (NYSE:ICE – Get Free Report) insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $1.16 during midday trading on Friday, hitting $149.07. 3,301,963 shares of the company’s stock were exchanged, compared to its average volume of 3,231,314. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $85.59 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.29 and a beta of 1.10. The business’s fifty day moving average price is $153.35 and its two-hundred day moving average price is $155.44. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 6.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Intercontinental Exchange by 326.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after buying an additional 3,460,096 shares in the last quarter. FMR LLC increased its holdings in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after purchasing an additional 1,301,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Intercontinental Exchange by 426.3% during the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after buying an additional 584,400 shares during the period. Finally, Samlyn Capital LLC grew its stake in shares of Intercontinental Exchange by 142.2% during the second quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after buying an additional 490,671 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Piper Sandler upped their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Get Our Latest Research Report on ICE

Intercontinental Exchange Company Profile

(Get Free Report)

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

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