Intercontinental Exchange (NYSE:ICE) Director Martha Tirinnanzi Sells 1,340 Shares

Intercontinental Exchange Inc. (NYSE:ICE) Director Martha Tirinnanzi sold 1,340 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.16, for a total transaction of $215,954.40. Following the sale, the director owned 3,747 shares of the company’s stock, valued at $603,866.52. This represents a 26.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Intercontinental Exchange Trading Up 0.8%

NYSE ICE opened at $162.46 on Friday. The firm’s fifty day moving average price is $144.90 and its 200 day moving average price is $151.50. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month 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. The company has a market capitalization of $91.20 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share 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 firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the company earned $1.81 earnings per share. Intercontinental Exchange’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in shares of Intercontinental Exchange by 11,968.7% during the second quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock worth $13,342,784,000 after buying an additional 107,482,962 shares during the last quarter. J. Stern & Co. LLP increased its position in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares during the period. BlackRock Inc. purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $6,245,085,000. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $1,418,228,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $714,869,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. UBS Group restated a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler reduced their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, Barclays reissued an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.