Intercontinental Exchange (NYSE:ICE) General Counsel Sells 4,574 Shares

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,574 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the transaction, the general counsel owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intercontinental Exchange Trading Up 0.8%

NYSE:ICE traded up $1.22 during trading hours on Friday, hitting $162.46. The company had a trading volume of 3,000,844 shares, compared to its average volume of 3,957,768. The company has a market capitalization of $91.20 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The stock has a 50-day moving average price of $144.32 and a 200 day moving average price of $151.43. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.76. 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 (NYSE:ICE) last issued its quarterly earnings data 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. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the firm earned $1.81 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds have recently bought and sold shares of ICE. California State Teachers Retirement System grew its position in Intercontinental Exchange by 11,968.7% during the 2nd quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock valued at $13,342,784,000 after purchasing an additional 107,482,962 shares during the last quarter. J. Stern & Co. LLP raised its holdings in Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares during the last quarter. BlackRock Inc. bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $6,245,085,000. State Street Corp lifted its stake in shares of Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. UBS Group reissued a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. The Goldman Sachs Group cut their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Piper Sandler dropped their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.