Andrew Surdykowski Sells 4,573 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Intercontinental Exchange Trading Down 0.3%

Shares of ICE opened at $147.85 on Friday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The firm has a market capitalization of $83.61 billion, a P/E ratio of 21.52, a PEG ratio of 1.38 and a beta of 0.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average is $157.38 and its two-hundred day moving average is $160.07.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after purchasing an additional 10,742 shares during the period. Rockland Trust Co. raised its stake in shares of Intercontinental Exchange by 19.7% in the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after acquiring an additional 20,981 shares during the period. M&G PLC raised its stake in shares of Intercontinental Exchange by 18.4% in the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after acquiring an additional 16,635 shares during the period. McKinley Carter Wealth Services Inc. raised its stake in shares of Intercontinental Exchange by 15.9% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider’s stock valued at $5,308,000 after acquiring an additional 4,333 shares during the period. Finally, Bright Rock Capital Management LLC raised its stake in shares of Intercontinental Exchange by 50.0% in the 3rd quarter. Bright Rock Capital Management LLC now owns 45,000 shares of the financial services provider’s stock valued at $7,582,000 after acquiring an additional 15,000 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange News Roundup

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: CEO Jeffrey Sprecher’s comments about pursuing 24/7 on-chain perps and exploring ties with Hyperliquid suggest ICE could expand into a fast-growing crypto trading niche. Article: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps
• Positive Sentiment: ICE said natural gas and power open interest hit record levels in May, pointing to strong trading volumes and healthy demand on its exchanges. Article: Open interest in natural gas and power on ICE hits record in May
• Neutral Sentiment: ICE’s CEO also highlighted exploratory discussions with Hyperliquid, reinforcing the company’s interest in crypto-market infrastructure but without any finalized deal or launch yet. Article: Intercontinental Exchange Owner Says This 11-Person Crypto Team Is Bigger Than Nasdaq
• Negative Sentiment: General Counsel Andrew Surdykowski sold 4,573 shares, adding to near-term concern around insider confidence. Article: Intercontinental Exchange General Counsel Andrew Surdykowski Sells 4,573 Shares
• Negative Sentiment: Director Sharon Bowen also sold shares recently, which may reinforce the cautious tone around the stock. Article: Intercontinental Exchange Director Sharon Bowen Sells 667 Shares

Analysts Set New Price Targets

ICE has been the topic of several recent research reports. Piper Sandler reaffirmed 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. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Friday, March 6th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $194.60.

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.