Intercontinental Exchange, Inc. (NYSE:ICE) CTO Sells $835,506.99 in Stock

Intercontinental Exchange, Inc. (NYSE:ICE) CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % 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 link.

Intercontinental Exchange Stock Down 0.8 %

Shares of ICE stock traded down $1.16 during trading hours on Friday, reaching $149.07. The company had a trading volume of 3,301,963 shares, compared to its average volume of 3,231,314. The stock’s fifty day simple moving average is $153.35 and its 200 day simple moving average is $155.44. The company has a market capitalization of $85.59 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in Intercontinental Exchange in the second quarter valued at about $25,000. Wolff Wiese Magana LLC boosted its stake in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its position in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Bank of America raised their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

About Intercontinental Exchange

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.