Intercontinental Exchange Inc. $ICE Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 8.3% in the 4th quarter, Holdings Channel reports. The firm owned 337,468 shares of the financial services provider’s stock after acquiring an additional 25,933 shares during the quarter. King Luther Capital Management Corp’s holdings in Intercontinental Exchange were worth $54,656,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ICE. ICONIQ Capital LLC increased its holdings in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Mechanics Financial Corp increased its holdings in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 60 shares in the last quarter. Mission Wealth Management LP increased its holdings in Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC increased its holdings in Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 1.3%

Shares of Intercontinental Exchange stock opened at $150.94 on Wednesday. The business has a 50-day moving average of $158.06 and a 200-day moving average of $160.15. 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 $85.36 billion, a PE ratio of 21.97, a P/E/G ratio of 1.42 and a beta of 0.96. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

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, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on ICE shares. Piper Sandler reiterated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Barclays reiterated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Finally, Morgan Stanley increased their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $194.60.

Insider Activity

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the sale, the general counsel owned 48,181 shares of the company’s stock, valued at $7,805,322. This represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,332 shares of company stock worth $1,794,334 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

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.