Martha Tirinnanzi Sells 141 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) Director Martha Tirinnanzi sold 141 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $155.00, for a total value of $21,855.00. Following the completion of the sale, the director directly owned 5,087 shares in the company, valued at approximately $788,485. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $156.30 on Wednesday. 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 Inc. has a 52 week low of $121.79 and a 52 week high of $181.72. The stock has a market capitalization of $87.75 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. The stock has a fifty day moving average of $141.20 and a 200-day moving average of $151.86.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ICE shares. TD Cowen reiterated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler decreased their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. Morgan Stanley dropped their price target on 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. Finally, Wall Street Zen lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Institutional Investors Weigh In On Intercontinental Exchange

A number of institutional investors have recently added to or reduced their stakes in the business. ICONIQ Capital LLC lifted its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares during the period. Mission Wealth Management LP boosted its holdings in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 62 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 63 shares during the period. Johnson Financial Group LLC raised its holdings in Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 65 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 68 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

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.