Intercontinental Exchange Inc. $ICE Stake Lessened by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 94.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,856 shares of the financial services provider’s stock after selling 563,688 shares during the period. Intercontinental Exchange comprises about 1.2% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 29th largest position. Platinum Investment Management Ltd.’s holdings in Intercontinental Exchange were worth $5,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ICE. Brighton Jones LLC increased its stake in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,092 shares of company stock worth $1,860,424. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday. UBS Group restated a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, Barclays reaffirmed an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $140.26 on Friday. The company has a market cap of $79.32 billion, a PE ratio of 20.42, a P/E/G ratio of 1.33 and a beta of 0.92. The company has a fifty day moving average price of $154.22 and a two-hundred day moving average price of $159.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12 month low of $136.67 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 earnings per share. Research analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.