Sapient Capital LLC Sells 3,546 Shares of Intercontinental Exchange Inc. $ICE

Sapient Capital LLC lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 57.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,655 shares of the financial services provider’s stock after selling 3,546 shares during the period. Sapient Capital LLC’s holdings in Intercontinental Exchange were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Legacy Wealth Asset Management LLC boosted its position in shares of Intercontinental Exchange by 14.6% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 10,800 shares of the financial services provider’s stock valued at $1,330,000 after purchasing an additional 1,377 shares in the last quarter. Alliance Wealth Advisors LLC acquired a new position in Intercontinental Exchange in the second quarter valued at approximately $239,000. HF Advisory Group LLC acquired a new position in Intercontinental Exchange in the second quarter valued at approximately $765,000. Valeo Financial Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 60.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 6,391 shares of the financial services provider’s stock worth $787,000 after buying an additional 2,419 shares in the last quarter. Finally, Norway Savings Bank boosted its holdings in shares of Intercontinental Exchange by 2.5% during the 2nd quarter. Norway Savings Bank now owns 17,000 shares of the financial services provider’s stock worth $2,093,000 after buying an additional 415 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ICE. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Piper Sandler cut their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Barclays reiterated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Trading Up 0.4%

NYSE ICE opened at $151.16 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $186.20. The business has a 50 day moving average price of $139.79 and a 200-day moving average price of $152.54. The company has a market cap of $84.86 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.48 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the firm posted $1.81 EPS. Intercontinental Exchange’s revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were 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 of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 20,725 shares of company stock valued at $3,133,148. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange 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.