Intercontinental Exchange Inc. $ICE Shares Sold by Entropy Technologies LP

by · The Markets Daily

Entropy Technologies LP trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 60.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,741 shares of the financial services provider’s stock after selling 19,591 shares during the quarter. Entropy Technologies LP’s holdings in Intercontinental Exchange were worth $2,338,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Advisors Capital Management LLC lifted its position in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 396 shares during the period. Trillium Asset Management LLC raised its stake in shares of Intercontinental Exchange by 12.0% during the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after buying an additional 29,250 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Intercontinental Exchange by 6.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after buying an additional 55,057 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Intercontinental Exchange by 19.7% in the 2nd quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock valued at $53,961,000 after buying an additional 48,344 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $1,075,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ICE. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. TD Cowen cut their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $194.70.

Check Out Our Latest Research Report on Intercontinental Exchange

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. The trade was a 13.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,258 shares of company stock valued at $27,146,307 in the last ninety days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $154.57 on Friday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a market cap of $88.13 billion, a P/E ratio of 29.67, a PEG ratio of 2.11 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $158.04 and a two-hundred day moving average of $172.04.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the company posted $1.55 EPS. The company’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

(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.

See Also

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