Koa Wealth Management LLC Purchases 4,013 Shares of Intercontinental Exchange Inc. $ICE

Koa Wealth Management LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 27.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,866 shares of the financial services provider’s stock after purchasing an additional 4,013 shares during the period. Intercontinental Exchange accounts for about 2.0% of Koa Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. Koa Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ICE. Keystone Financial Group Inc. boosted its holdings in shares of Intercontinental Exchange by 24.4% during the third quarter. Keystone Financial Group Inc. now owns 1,096 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 215 shares during the last quarter. Signal Advisors Wealth LLC increased its stake in Intercontinental Exchange by 24.1% in the third quarter. Signal Advisors Wealth LLC now owns 15,389 shares of the financial services provider’s stock valued at $2,340,000 after purchasing an additional 2,990 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Intercontinental Exchange in the third quarter valued at $349,000. Krilogy Financial LLC grew its holdings in Intercontinental Exchange by 9.5% in the 3rd quarter. Krilogy Financial LLC now owns 36,019 shares of the financial services provider’s stock valued at $5,670,000 after buying an additional 3,125 shares during the period. Finally, Mechanics Bank Trust Department purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at about $233,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.5%

ICE stock traded down $0.82 during trading on Wednesday, reaching $155.60. 927,537 shares of the stock traded hands, compared to its average volume of 3,777,296. The firm has a market capitalization of $87.35 billion, a PE ratio of 21.97, a P/E/G ratio of 1.49 and a beta of 0.94. 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 business’s 50 day moving average price is $155.99 and its 200-day moving average price is $150.76. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.05.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. Wells Fargo & Company restated an “underweight” rating and issued a $160.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Wednesday. Bank of America boosted their target price on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Raymond James Financial dropped their price target on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research report on Monday, October 5th. Finally, UBS Group reaffirmed 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.31.

Insider Activity

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 1,340 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the completion of the sale, the director directly owned 3,747 shares in the company, valued at $603,866.52. The trade was a 26.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Edmonds sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares of the company’s stock, valued at $2,307,196.53. The trade was a 25.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,179 shares of company stock worth $6,473,715. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.