Intercontinental Exchange (NYSE:ICE) CFO Warren Gardiner Sells 2,491 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intercontinental Exchange Trading Up 1.7%

Intercontinental Exchange stock opened at $161.29 on Friday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $181.65. The company has a market capitalization of $90.55 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.92. The business’s fifty day simple moving average is $142.34 and its two-hundred day simple moving average is $151.69. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ICE shares. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research report on Monday, July 6th. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. TD Cowen reiterated a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, UBS Group reissued a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange during the second quarter valued at $26,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Swiss RE Ltd. purchased a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange in the fourth quarter worth about $30,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company 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.