California State Teachers Retirement System Sells 24,403 Shares of Intercontinental Exchange Inc. $ICE

California State Teachers Retirement System reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 2.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 898,034 shares of the financial services provider’s stock after selling 24,403 shares during the quarter. California State Teachers Retirement System owned 0.16% of Intercontinental Exchange worth $141,243,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $25,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $28,000. Dorato Capital Management bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $29,000. Swiss RE Ltd. purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $28,000. Finally, Steph & Co. raised its stake in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research reports. TD Cowen cut their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. The Goldman Sachs Group cut their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, UBS Group cut their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $154.69 on Thursday. The firm has a market capitalization of $87.48 billion, a price-to-earnings ratio of 22.52, a P/E/G ratio of 1.59 and a beta of 0.94. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The stock has a fifty day moving average of $139.39 and a 200 day moving average of $153.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company earned $1.72 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts expect that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock valued at $2,046,324 in the last 90 days. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Company 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.