Insider Selling: Intercontinental Exchange (NYSE:ICE) CEO Sells 150,000 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) CEO Jeffrey Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the sale, the chief executive officer directly owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intercontinental Exchange Stock Up 1.9%

NYSE:ICE traded up $2.91 during mid-day trading on Friday, hitting $154.57. The stock had a trading volume of 3,895,570 shares, compared to its average volume of 3,190,287. The company has a market capitalization of $88.13 billion, a PE ratio of 29.67, a PEG ratio of 2.11 and a beta of 1.06. The stock has a 50-day simple moving average of $158.43 and a two-hundred day simple moving average of $172.18. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. 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 (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 earnings per share. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ICE. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Barclays set a $183.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, UBS Group reduced their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $194.70.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently made changes to their positions in the company. Optivise Advisory Services LLC grew its stake in Intercontinental Exchange by 3.1% during the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after buying an additional 54 shares during the last quarter. ICONIQ Capital LLC boosted its stake in Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Tritonpoint Wealth LLC grew its holdings in Intercontinental Exchange by 1.4% during the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after acquiring an additional 58 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Intercontinental Exchange by 5.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 58 shares during the last quarter. Finally, RB Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 1.3% in the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Company 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.