Harfst & Associates Inc. Sells 2,119 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Harfst & Associates Inc. cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 27.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,516 shares of the financial services provider’s stock after selling 2,119 shares during the period. Harfst & Associates Inc.’s holdings in Intercontinental Exchange were worth $886,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. CCLA Investment Management lifted its stake in Intercontinental Exchange by 91,838.2% during the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after acquiring an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Intercontinental Exchange during the 2nd quarter worth $124,508,000. Janus Henderson Group PLC grew its stake in shares of Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after acquiring an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $93,340,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,532 shares of company stock worth $1,358,709. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $2.02 during trading on Friday, reaching $166.83. 2,310,759 shares of the company’s stock traded hands, compared to its average volume of 2,482,702. The firm’s 50-day moving average is $160.55 and its 200 day moving average is $146.20. The company has a market capitalization of $95.69 billion, a P/E ratio of 38.26, a PEG ratio of 2.62 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $167.23. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business posted $1.43 earnings per share. The business’s quarterly revenue was up 22.7% on a year-over-year basis. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. Morgan Stanley increased their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.80.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.