Intercontinental Exchange (NYSE:ICE) CTO Mayur Kapani Sells 10,082 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This represents a 13.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Intercontinental Exchange Trading Down 1.1%

NYSE ICE opened at $157.51 on Friday. The firm has a market cap of $90.16 billion, a P/E ratio of 30.23, a P/E/G ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50-day moving average is $174.01 and its 200-day moving average is $174.13. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ICE. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Barclays reissued an “overweight” rating and issued a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $197.10.

Hedge Funds Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tsfg LLC increased its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $28,000. Rakuten Securities Inc. lifted its holdings in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. Activest Wealth Management lifted its holdings in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Finally, Westside Investment Management Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter valued at $29,000. Institutional investors own 89.30% of the company’s stock.

About Intercontinental Exchange

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.