Intercontinental Exchange (NYSE:ICE) CTO Mayur Kapani Sells 4,271 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $0.69 during mid-day trading on Friday, reaching $154.55. The company had a trading volume of 1,632,189 shares, compared to its average volume of 4,006,082. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $86.76 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.49 and a beta of 0.92. The company has a 50 day moving average of $140.32 and a 200-day moving average of $152.25. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $182.86.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 30.08% and a return on equity of 14.95%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 EPS. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. UBS Group reissued a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. Morgan Stanley cut their target price 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, Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. One investment 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 price target of $183.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ICE. ICONIQ Capital LLC boosted its holdings in Intercontinental Exchange by 2.2% during the second 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. Mission Wealth Management LP raised its holdings in shares of 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 worth $423,000 after buying an additional 62 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after buying an additional 63 shares during the period. Sather Financial Group Inc lifted its position in shares of Intercontinental Exchange by 4.7% during the 4th quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock worth $233,000 after buying an additional 64 shares during the period. Finally, Johnson Financial Group LLC boosted its stake in Intercontinental Exchange by 4.0% in the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

About Intercontinental Exchange

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.