Intercontinental Exchange Inc. $ICE Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,129 shares of the financial services provider’s stock after selling 423 shares during the period. Mission Wealth Management LP’s holdings in Intercontinental Exchange were worth $2,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the period. Nuveen LLC purchased a new stake in Intercontinental Exchange during the 1st quarter worth $575,383,000. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Intercontinental Exchange by 31.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock worth $616,836,000 after buying an additional 861,679 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in Intercontinental Exchange by 8,722.4% in the 1st quarter. Alyeska Investment Group L.P. now owns 839,360 shares of the financial services provider’s stock valued at $144,790,000 after buying an additional 829,846 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. TD Cowen cut their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, UBS Group dropped their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.82.

Insider Activity at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 240,162 shares of company stock valued at $43,642,652 in the last ninety days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $146.10 on Monday. The firm has a market cap of $83.63 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.11 and a beta of 1.08. The stock has a 50 day moving average of $165.55 and a 200-day moving average of $173.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company posted $1.55 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Profile

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.